The Charles Schwab Corporation $SCHW Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 81.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,357 shares of the financial services provider’s stock after selling 554,200 shares during the period. Clarkston Capital Partners LLC’s holdings in Charles Schwab were worth $11,499,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SCHW. Dogwood Wealth Management LLC increased its position in Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Piscataqua Savings Bank purchased a new position in shares of Charles Schwab in the 4th quarter worth $26,000. Beacon Financial Strategies CORP acquired a new position in Charles Schwab in the fourth quarter valued at $29,000. Optima Capital LLC purchased a new stake in Charles Schwab during the fourth quarter valued at about $30,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Charles Schwab in the 1st quarter worth about $29,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab News Summary

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SCHW. Wolfe Research reiterated an “outperform” rating and set a $127.00 target price on shares of Charles Schwab in a report on Tuesday. Zacks Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Morgan Stanley upped their target price on Charles Schwab from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. TD Cowen raised their target price on Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Jefferies Financial Group lowered their price objective on shares of Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $119.76.

Charles Schwab Stock Up 0.8%

NYSE:SCHW opened at $101.62 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $176.73 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $107.50. The stock has a 50-day simple moving average of $93.71 and a 200 day simple moving average of $95.35.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping 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 company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the business posted $1.14 EPS. Charles Schwab’s quarterly revenue was up 20.9% compared to the same quarter last year. Sell-side analysts predict that The Charles Schwab Corporation will post 6.34 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.3%. Charles Schwab’s payout ratio is presently 25.40%.

Insiders Place Their Bets

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total value of $228,312.00. Following the transaction, the director owned 177,508 shares of the company’s stock, valued at $16,082,224.80. This trade 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 at this link. Also, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the sale, the insider owned 13,738 shares in the company, valued at $1,373,937.38. The trade was 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 have sold 6,520 shares of company stock worth $622,392 over the last three months. 6.30% of the stock is owned by corporate insiders.

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.