Bowen Hanes & Co. Inc. Raises Stock Position in The Charles Schwab Corporation $SCHW

Bowen Hanes & Co. Inc. grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 20.8% in the first quarter, Holdings Channel.com reports. The fund owned 740,788 shares of the financial services provider’s stock after purchasing an additional 127,495 shares during the period. Charles Schwab makes up about 1.7% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 22nd largest holding. Bowen Hanes & Co. Inc.’s holdings in Charles Schwab were worth $69,619,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brookwood Investment Group LLC grew its stake in shares of 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 purchasing an additional 8,054 shares in the last quarter. Juno Financial Group LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth about $2,591,000. Swiss Life Asset Management Ltd increased its holdings in shares of Charles Schwab by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock valued at $40,681,000 after acquiring an additional 16,482 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Charles Schwab by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares during the last quarter. Finally, Busey Bank lifted its stake in Charles Schwab by 15.5% during the fourth quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock worth $25,873,000 after purchasing an additional 34,745 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the sale, the director directly owned 177,508 shares in the company, valued at $16,082,224.80. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider owned 13,738 shares in the company, valued at approximately $1,373,937.38. This trade represents a 12.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,520 shares of company stock valued at $622,392 over the last quarter. 6.30% of the stock is currently owned by insiders.

Key Headlines Impacting Charles Schwab

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

• Positive Sentiment: Schwab beat Q2 estimates, with record daily average revenue trades, a 20%+ revenue increase, and management raising full-year guidance, signaling strong operating momentum. Schwab Beats 2Q Estimates as Retail Traders Pile Into Market
• Positive Sentiment: Analysts turned more bullish, with Argus lifting its price target to $114 and Barclays raising its target to $125, both with positive ratings. Analyst price target increases
• Positive Sentiment: Schwab was added to Zacks’ Rank #1 “Strong Buy” income stocks list, which can support investor sentiment around the name. Best Income Stocks to Buy for July 23rd
• Neutral Sentiment: Schwab declared its regular quarterly common stock dividend and preferred dividends, reinforcing its shareholder-return profile but not changing the core growth story. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Negative Sentiment: Some coverage noted that SCHW shares fell despite the earnings surge, suggesting traders may be taking profits after the run-up or focusing on valuation near recent highs. Interactive Brokers, Charles Schwab Slide Despite Earnings Surge

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $101.62 on Friday. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50. The company has a market cap of $176.73 billion, a PE ratio of 18.48, a P/E/G ratio of 0.83 and a beta of 0.77. 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 stock has a fifty day moving average price of $93.71 and a 200 day moving average price of $95.35.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts forecast that The Charles Schwab Corporation will post 6.34 EPS for the current year.

Charles Schwab Announces Dividend

The company 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 dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.3%. Charles Schwab’s payout ratio is 25.40%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a report on Wednesday. Morgan Stanley upped their price objective on shares of Charles Schwab from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Jefferies Financial Group reduced their target price on Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a report on Monday, April 6th. Truist Financial cut their price target 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. Finally, BMO Capital Markets downgraded Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.76.

Charles Schwab 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.