Evercore Wealth Management LLC Lowers Stock Position in The Charles Schwab Corporation $SCHW

Evercore Wealth Management LLC decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 90.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 16,493 shares of the financial services provider’s stock after selling 153,183 shares during the period. Evercore Wealth Management LLC’s holdings in Charles Schwab were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SCHW. Dogwood Wealth Management LLC lifted its holdings in shares of Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after buying an additional 123 shares during the period. Piscataqua Savings Bank acquired a new position in Charles Schwab during the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new position in Charles Schwab in the first quarter worth $29,000. Optima Capital LLC purchased a new position in Charles Schwab in the fourth quarter worth $30,000. Finally, McIlrath & Eck LLC lifted its holdings in Charles Schwab by 143.2% in the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 189 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 4,053 shares of Charles Schwab stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $104.14, for a total transaction of $422,079.42. Following the completion of the transaction, the insider owned 57,972 shares in the company, valued at approximately $6,037,204.08. The trade was a 6.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $104.21, for a total transaction of $208,420.00. Following the completion of the sale, the insider directly owned 11,738 shares in the company, valued at $1,223,216.98. This trade represents a 14.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 17,005 shares of company stock worth $1,733,892. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus increased their price target on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $145.00 price target on shares of Charles Schwab in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.94.

Key Charles Schwab News

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

• Positive Sentiment: Planned $20 billion share repurchase: Charles Schwab reportedly plans to buy back $20 billion of its stock, a substantial capital-allocation commitment that could reduce shares outstanding, support earnings per share and signal management’s confidence in the company’s valuation and cash-generation outlook. Charles Schwab to buy back $20 billion of stock
• Positive Sentiment: Analysts continue to favor SCHW as a growth stock: Charles Schwab was included among analysts’ preferred growth names, reflecting confidence in demand trends and longer-term catalysts. The view is consistent with the company’s latest quarterly performance, which included earnings and revenue above consensus and 20.9% year-over-year revenue growth. Best Growth Stocks to Buy This Week
• Positive Sentiment: Retail investor sentiment is improving: Schwab executive James Kostulias said bullishness among retail traders is rising. Greater investor participation and trading activity could support Schwab’s brokerage-related revenue and asset-gathering trends. Charles Schwab executive discusses rising retail bullishness
• Positive Sentiment: Potential cryptocurrency-regulation tailwind: Schwab reportedly backed the CLARITY Act ahead of an August deadline. Clearer digital-asset rules could help established financial firms expand crypto-related products and services, although the legislation remains subject to the legislative process. Charles Schwab backs the CLARITY Act
• Neutral Sentiment: Commentary highlighting “three big reasons” to favor SCHW and a report on billionaire investor Andreas Halvorsen’s holdings add to positive market attention, but these opinions are not new company fundamentals or formal analyst actions. Three big reasons to favor Charles Schwab Andreas Halvorsen’s top picks
• Negative Sentiment: Several insiders sold shares, including General Counsel Peter J. Morgan III and executives Jonathan S. Beatty and Nigel J. Murtagh. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, but they may still create limited investor caution.

Charles Schwab Stock Up 1.9%

Charles Schwab stock opened at $106.17 on Wednesday. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $107.50. The firm has a market capitalization of $184.65 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 0.84 and a beta of 0.77. The stock’s fifty day moving average is $94.46 and its two-hundred day moving average is $95.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The business’s revenue was up 20.9% on a year-over-year basis. Analysts predict that The Charles Schwab Corporation will post 6.45 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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 issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) 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.