Fulton Bank N.A. Decreases Stake in The Charles Schwab Corporation $SCHW

Fulton Bank N.A. reduced its position in The Charles Schwab Corporation (NYSE:SCHW) by 7.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,325 shares of the financial services provider’s stock after selling 688 shares during the period. Fulton Bank N.A.’s holdings in Charles Schwab were worth $760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in Charles Schwab by 2.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,113,723 shares of the financial services provider’s stock valued at $101,883,000 after buying an additional 26,368 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Charles Schwab by 16.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 644,000 shares of the financial services provider’s stock valued at $58,759,000 after purchasing an additional 92,400 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Charles Schwab by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 16,948 shares of the financial services provider’s stock valued at $1,565,000 after purchasing an additional 641 shares in the last quarter. Swedbank AB raised its stake in shares of Charles Schwab by 16.0% in the 2nd quarter. Swedbank AB now owns 755,020 shares of the financial services provider’s stock valued at $68,888,000 after purchasing an additional 104,138 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Charles Schwab by 5.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 224,140 shares of the financial services provider’s stock valued at $20,451,000 after purchasing an additional 10,817 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JMP Securities upped their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and upped their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Truist Financial upped their target price on shares of Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Morgan Stanley upped their target price on shares of Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Bank of America upped their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research note on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Insiders Place Their Bets

In related news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider owned 41,188 shares of the company’s stock, valued at $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is currently owned by insiders.

Charles Schwab Trading Up 1.1%

Charles Schwab stock opened at $94.27 on Friday. The firm has a 50 day simple moving average of $95.42 and a 200-day simple moving average of $87.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $171.12 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The Charles Schwab Corporation has a 12-month low of $62.41 and a 12-month high of $99.59.

Charles Schwab (NYSE:SCHW) last posted 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. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Charles Schwab announced that its Board of Directors has authorized a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.