Pointe Capital Management LLC Buys Shares of 5,461 The Charles Schwab Corporation $SCHW

Pointe Capital Management LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,461 shares of the financial services provider’s stock, valued at approximately $504,000.

Several other institutional investors and hedge funds also recently modified their holdings of SCHW. Dogwood Wealth Management LLC raised its position in shares of Charles Schwab by 99.2% during the 4th 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. Compass Financial Management LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new stake in Charles Schwab during the 1st quarter valued at $29,000. McIlrath & Eck LLC grew its holdings in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after buying an additional 189 shares during the last quarter. Finally, Main Street Group LTD purchased a new position in Charles Schwab during the first quarter worth $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. TD Cowen boosted their price target on Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Piper Sandler set a $118.00 price objective on Charles Schwab in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Finally, Barclays upped their target price on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued 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 presently has a consensus rating of “Moderate Buy” and an average price target of $121.17.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 93,408 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $104.64, for a total value of $9,774,213.12. Following the sale, the chairman directly owned 529,346 shares of the company’s stock, valued at approximately $55,390,765.44. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Howard sold 2,198 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $110.00, for a total transaction of $241,780.00. Following the completion of the sale, the insider owned 6,980 shares of the company’s stock, valued at approximately $767,800. The trade was a 23.95% 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 398,984 shares of company stock worth $41,699,569 over the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 1.1%

Shares of SCHW opened at $112.43 on Wednesday. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $114.53. The company has a market capitalization of $194.43 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.76. The stock has a fifty day moving average of $102.42 and a two-hundred day moving average of $96.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. As a group, analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.1%. Charles Schwab’s payout ratio is 23.27%.

Charles Schwab Company 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.