Heartland Bank & Trust Co Buys Shares of 7,723 The Charles Schwab Corporation $SCHW

Heartland Bank & Trust Co purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,723 shares of the financial services provider’s stock, valued at approximately $713,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock worth $3,747,646,000 after buying an additional 98,242 shares during the period. Swiss Life Asset Management Ltd grew its stake in shares of Charles Schwab by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock valued at $40,681,000 after acquiring an additional 16,482 shares during the period. Directional Asset Management purchased a new stake in Charles Schwab in the 4th quarter worth approximately $1,409,000. Eurizon Capital SGR S.p.A. purchased a new stake in Charles Schwab in the 4th quarter worth approximately $35,233,000. Finally, Norges Bank bought a new stake in Charles Schwab during the 4th quarter worth approximately $1,994,189,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

NYSE:SCHW opened at $112.36 on Friday. The business’s 50-day moving average is $101.59 and its 200 day moving average is $96.15. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $112.40. The company has a market capitalization of $194.31 billion, a P/E ratio of 20.43, a P/E/G ratio of 0.84 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. On average, equities research analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling

In related news, insider Nigel J. Murtagh sold 24,778 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the sale, the insider owned 57,972 shares of the company’s stock, valued at $6,319,527.72. This represents a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 1,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.33, for a total transaction of $111,330.00. Following the transaction, the insider owned 10,738 shares of the company’s stock, valued at $1,195,461.54. This trade represents a 8.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 398,984 shares of company stock valued at $41,699,569 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCHW. Raymond James Financial reissued an “outperform” rating and issued a $145.00 price objective on shares of Charles Schwab in a research note on Wednesday, July 22nd. Piper Sandler set a $118.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Compass Point began coverage on Charles Schwab in a research note on Monday, August 3rd. They issued a “buy” rating and a $135.00 price target for the company. Argus boosted their price objective on Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Barclays upped their price objective on Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

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.