Trust Co. of Toledo NA OH Grows Holdings in The Charles Schwab Corporation $SCHW

Trust Co. of Toledo NA OH boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,838 shares of the financial services provider’s stock after purchasing an additional 218 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Charles Schwab were worth $806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after acquiring an additional 8,954,248 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Charles Schwab by 10.8% in the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after acquiring an additional 1,700,384 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Charles Schwab by 16.0% in the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after acquiring an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Charles Schwab by 5.0% in the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after acquiring an additional 743,906 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several analyst reports. Truist Financial set a $112.00 target price on shares of Charles Schwab in a report on Thursday, October 2nd. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Barclays reaffirmed an “overweight” rating and set a $114.00 price target on shares of Charles Schwab in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $92.08 on Friday. The stock has a market cap of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company’s 50-day moving average price is $94.97 and its 200 day moving average price is $89.13. 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 issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is presently 29.03%.

Charles Schwab declared that its board has initiated a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last 90 days. Insiders own 6.30% of the company’s stock.

Charles Schwab Company Profile

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.