The Charles Schwab Corporation $SCHW Shares Bought by First National Trust Co

First National Trust Co increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,967 shares of the financial services provider’s stock after acquiring an additional 3,496 shares during the period. First National Trust Co’s holdings in Charles Schwab were worth $4,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pine Haven Investment Counsel Inc grew its holdings in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after acquiring an additional 110 shares during the period. Principle Wealth Partners LLC grew its holdings in shares of Charles Schwab by 2.0% in the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 113 shares during the period. Traveka Wealth LLC grew its holdings in shares of Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares during the period. Leavell Investment Management Inc. grew its holdings in shares of Charles Schwab by 1.0% in the 2nd quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock worth $1,111,000 after acquiring an additional 118 shares during the period. Finally, Tlwm grew its holdings in shares of Charles Schwab by 0.7% in the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SCHW shares. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Citigroup upped their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Morgan Stanley reduced their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. upped their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Charles Schwab Trading Up 0.4%

Shares of Charles Schwab stock opened at $94.76 on Tuesday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The firm has a market cap of $172.01 billion, a PE ratio of 22.19, a P/E/G ratio of 0.85 and a beta of 0.97. The business’s fifty day moving average is $94.40 and its two-hundred day moving average is $90.73. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab announced that its board has approved a share repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,156 shares of company stock valued at $6,686,934 in the last quarter. 6.30% of the stock is currently owned by company insiders.

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.