First Hawaiian Bank Acquires 5,135 Shares of The Charles Schwab Corporation $SCHW

First Hawaiian Bank boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,185 shares of the financial services provider’s stock after purchasing an additional 5,135 shares during the quarter. First Hawaiian Bank’s holdings in Charles Schwab were worth $8,156,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SCHW. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab in the 1st quarter worth approximately $25,000. Westside Investment Management Inc. lifted its position 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 worth $27,000 after acquiring an additional 150 shares during the period. CBIZ Investment Advisory Services LLC lifted its position 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 worth $30,000 after acquiring an additional 191 shares during the period. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab in the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management lifted its position 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 worth $32,000 after acquiring an additional 399 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the sale, the insider directly owned 37,983 shares of the company’s stock, valued at $3,615,981.60. This represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 298,214 shares of company stock worth $29,022,580. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on SCHW shares. TD Securities raised their price objective on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Raymond James Financial reiterated an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Piper Sandler raised their price objective on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Barclays increased their target price on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Citigroup increased their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.60.

Charles Schwab Trading Up 1.8%

Shares of SCHW opened at $93.90 on Friday. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59. 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 stock has a 50 day simple moving average of $95.36 and a 200-day simple moving average of $86.66. The stock has a market cap of $170.45 billion, a PE ratio of 25.24, a PEG ratio of 0.91 and a beta of 0.96.

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

Charles Schwab announced that its board has authorized a share buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

About Charles Schwab

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.