Dumont & Blake Investment Advisors LLC Boosts Stake in The Charles Schwab Corporation $SCHW

Dumont & Blake Investment Advisors LLC raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,556 shares of the financial services provider’s stock after purchasing an additional 140 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Charles Schwab were worth $1,054,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. RMG Wealth Management LLC purchased a new position in shares of Charles Schwab during the second quarter worth approximately $27,000. Westside Investment Management Inc. increased its position in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares during the period. Hoese & Co LLP increased its position in shares of Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 200 shares during the period. CBIZ Investment Advisory Services LLC increased its position in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the period. Finally, Stone House Investment Management LLC purchased a new position in shares of Charles Schwab during the first quarter worth approximately $31,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 over the last quarter. Insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW opened at $94.17 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s 50 day moving average price is $94.68 and its 200-day moving average price is $89.66. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The company has a market cap of $170.93 billion, a PE ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced 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 company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. Sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has approved a stock buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Bank of America raised their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $104.70.

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.