The Charles Schwab Corporation $SCHW Shares Bought by Vestor Capital LLC

Vestor Capital LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4,340.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,292 shares of the financial services provider’s stock after buying an additional 66,754 shares during the quarter. Vestor Capital LLC’s holdings in Charles Schwab were worth $6,231,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 1.9% during the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after purchasing an additional 2,786,829 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after buying an additional 1,038,376 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Charles Schwab by 2.8% in the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after buying an additional 815,625 shares during the period. Finally, Primecap Management Co. CA boosted its stake in shares of Charles Schwab by 35.9% in the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after buying an additional 5,032,728 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

NYSE:SCHW opened at $90.44 on Friday. The stock has a 50 day moving average of $93.88 and a two-hundred day moving average of $92.75. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The firm has a market cap of $160.71 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. On average, analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SCHW. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. TD Cowen raised their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Bank of America lifted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Barclays increased their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,938 shares of company stock worth $6,671,953 over the last three months. Insiders own 6.30% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.