Empire Financial Management Company LLC Takes $470,000 Position in The Charles Schwab Corporation $SCHW

Empire Financial Management Company LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the financial services provider’s stock, valued at approximately $470,000.

Several other large investors have also recently added to or reduced their stakes in the company. Brookwood Investment Group LLC grew its position in Charles Schwab by 192.6% during the fourth quarter. Brookwood Investment Group LLC now owns 12,236 shares of the financial services provider’s stock worth $1,222,000 after buying an additional 8,054 shares during the period. Juno Financial Group LLC acquired a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $2,591,000. Geode Capital Management LLC boosted its stake in shares of Charles Schwab by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock worth $3,747,646,000 after acquiring an additional 98,242 shares in the last quarter. Swiss Life Asset Management Ltd boosted its stake in shares of Charles Schwab by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock worth $40,681,000 after acquiring an additional 16,482 shares in the last quarter. Finally, Busey Bank grew its holdings in shares of Charles Schwab by 15.5% in the 4th quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock worth $25,873,000 after acquiring an additional 34,745 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Key Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Planned $20 billion share repurchase: Charles Schwab reportedly plans to buy back $20 billion of its stock, a substantial capital-allocation commitment that could reduce shares outstanding, support earnings per share and signal management’s confidence in the company’s valuation and cash-generation outlook. Charles Schwab to buy back $20 billion of stock
• Positive Sentiment: Analysts continue to favor SCHW as a growth stock: Charles Schwab was included among analysts’ preferred growth names, reflecting confidence in demand trends and longer-term catalysts. The view is consistent with the company’s latest quarterly performance, which included earnings and revenue above consensus and 20.9% year-over-year revenue growth. Best Growth Stocks to Buy This Week
• Positive Sentiment: Retail investor sentiment is improving: Schwab executive James Kostulias said bullishness among retail traders is rising. Greater investor participation and trading activity could support Schwab’s brokerage-related revenue and asset-gathering trends. Charles Schwab executive discusses rising retail bullishness
• Positive Sentiment: Potential cryptocurrency-regulation tailwind: Schwab reportedly backed the CLARITY Act ahead of an August deadline. Clearer digital-asset rules could help established financial firms expand crypto-related products and services, although the legislation remains subject to the legislative process. Charles Schwab backs the CLARITY Act
• Neutral Sentiment: Commentary highlighting “three big reasons” to favor SCHW and a report on billionaire investor Andreas Halvorsen’s holdings add to positive market attention, but these opinions are not new company fundamentals or formal analyst actions. Three big reasons to favor Charles Schwab Andreas Halvorsen’s top picks
• Negative Sentiment: Several insiders sold shares, including General Counsel Peter J. Morgan III and executives Jonathan S. Beatty and Nigel J. Murtagh. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, but they may still create limited investor caution.

Charles Schwab Stock Up 1.9%

SCHW stock opened at $106.17 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The company’s 50 day simple moving average is $94.46 and its 200-day simple moving average is $95.37. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $107.50. The firm has a market capitalization of $184.65 billion, a PE ratio of 19.30, a P/E/G ratio of 0.84 and a beta of 0.77.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the firm posted $1.14 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Equities analysts expect that The Charles Schwab Corporation will post 6.45 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s payout ratio is 23.27%.

Analyst Ratings Changes

SCHW has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Truist Financial decreased their target price on Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Keefe, Bruyette & Woods initiated coverage on Charles Schwab in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $110.00 price target for the company. Finally, UBS Group lifted their price target on Charles Schwab from $122.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.94.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total transaction of $208,420.00. Following the sale, the insider owned 11,738 shares of the company’s stock, valued at $1,223,216.98. This trade represents a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of Charles Schwab stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total value of $709,312.56. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,005 shares of company stock worth $1,733,892 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.