2,902 Shares in The Charles Schwab Corporation $SCHW Acquired by Coordinated Financial Services Inc.

Coordinated Financial Services Inc. acquired a new position in The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, Holdings Channel reports. The firm acquired 2,902 shares of the financial services provider’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RMG Wealth Management LLC acquired a new position in Charles Schwab in the 2nd quarter worth approximately $27,000. Westside Investment Management Inc. increased its holdings in shares of Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at about $31,000. Finally, Activest Wealth Management increased its holdings in shares of Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research reports. Raymond James Financial reissued an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. Morgan Stanley decreased their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Truist Financial set a $112.00 target price on shares of Charles Schwab in a research note on Thursday, October 2nd. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Charles Schwab Stock Down 2.1%

SCHW stock opened at $92.08 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a fifty day simple moving average of $94.97 and a 200 day simple moving average of $89.06. The firm has a market cap of $167.15 billion, a PE ratio of 24.75, a PEG ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the business earned $0.73 EPS. Charles Schwab’s quarterly revenue was up 24.8% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab declared that its board has authorized a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock worth $26,232,077 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Company Profile

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.