Orca Investment Management LLC Makes New Investment in The Charles Schwab Corporation $SCHW

Orca Investment Management LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,569 shares of the financial services provider’s stock, valued at approximately $422,000.

Several other institutional investors have also modified their holdings of SCHW. Next Capital Management LLC bought a new stake in Charles Schwab during the 2nd quarter worth approximately $1,506,000. Trust Asset Management LLC lifted its stake in Charles Schwab by 9.5% in the second quarter. Trust Asset Management LLC now owns 18,377 shares of the financial services provider’s stock valued at $1,696,000 after buying an additional 1,596 shares in the last quarter. Whitener Capital Management Inc. lifted its stake in Charles Schwab by 17.0% in the second quarter. Whitener Capital Management Inc. now owns 24,877 shares of the financial services provider’s stock valued at $2,295,000 after buying an additional 3,608 shares in the last quarter. Tema ETFs LLC boosted its holdings in shares of Charles Schwab by 10.6% in the second quarter. Tema ETFs LLC now owns 31,695 shares of the financial services provider’s stock valued at $2,924,000 after buying an additional 3,045 shares during the period. Finally, Lederer & Associates Investment Counsel CA acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $1,624,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $111.03 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a 12-month low of $83.96 and a 12-month high of $111.18. The business has a 50 day moving average of $99.40 and a 200-day moving average of $95.89. The stock has a market cap of $192.01 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.85 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the firm earned $1.14 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. BMO Capital Markets cut Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price for the company. in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Finally, Zacks Research upgraded Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.17.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 192,488 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $103.90, for a total transaction of $19,999,503.20. Following the completion of the sale, the chairman directly owned 529,346 shares in the company, valued at $54,999,049.40. This trade represents a 26.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paula A. Sneed sold 5,263 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $107.15, for a total value of $563,930.45. Following the transaction, the director owned 91,711 shares in the company, valued at approximately $9,826,833.65. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 395,786 shares of company stock worth $41,346,459 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

About Charles Schwab

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.