The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by FSB Premier Wealth Management Inc.

FSB Premier Wealth Management Inc. boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 17.8% in the first quarter, Holdings Channel reports. The fund owned 29,941 shares of the financial services provider’s stock after purchasing an additional 4,525 shares during the period. FSB Premier Wealth Management Inc.’s holdings in Charles Schwab were worth $2,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Geode Capital Management LLC raised its holdings in Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after purchasing an additional 760,043 shares during the last quarter. Northern Trust Corp raised its holdings in Charles Schwab by 13.4% during the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock worth $1,164,911,000 after purchasing an additional 1,864,286 shares during the last quarter. Invesco Ltd. increased its position in Charles Schwab by 3.0% during the fourth quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider’s stock worth $1,098,497,000 after buying an additional 430,250 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Charles Schwab by 27.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,653,684 shares of the financial services provider’s stock worth $862,489,000 after buying an additional 2,511,082 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Charles Schwab by 5.9% during the first quarter. Bank of New York Mellon Corp now owns 11,056,953 shares of the financial services provider’s stock worth $865,538,000 after buying an additional 618,101 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SCHW. Citigroup raised their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Truist Financial lifted their price objective on Charles Schwab from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. UBS Group lifted their price objective on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Finally, TD Securities lifted their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.35.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total transaction of $299,225.50. Following the sale, the insider owned 35,864 shares in the company, valued at $3,261,830.80. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the transaction, the insider directly owned 15,219 shares of the company’s stock, valued at $1,332,727.83. This trade represents a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,313 shares of company stock valued at $10,264,091 over the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.0%

NYSE:SCHW opened at $97.92 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a one year low of $61.15 and a one year high of $99.59. The business’s 50-day simple moving average is $90.69 and its 200 day simple moving average is $83.22. The stock has a market cap of $177.92 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, August 8th. Charles Schwab’s payout ratio is currently 29.03%.

Charles Schwab declared that its board has approved a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.