Vima LLC Sells 45,883 Shares of The Charles Schwab Corporation $SCHW

Vima LLC reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 81.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,352 shares of the financial services provider’s stock after selling 45,883 shares during the quarter. Vima LLC’s holdings in Charles Schwab were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Charles Schwab by 22.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after buying an additional 3,009,884 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Charles Schwab by 3.5% during the first quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider’s stock worth $1,468,252,000 after buying an additional 530,191 shares in the last quarter. Flossbach Von Storch SE acquired a new stake in shares of Charles Schwab during the second quarter worth $987,930,000. Dimensional Fund Advisors LP lifted its holdings in shares of Charles Schwab by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 5,742,934 shares of the financial services provider’s stock worth $539,705,000 after buying an additional 60,979 shares in the last quarter. Finally, Provident Trust Co. boosted its position in shares of Charles Schwab by 0.4% in the second quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider’s stock valued at $342,916,000 after acquiring an additional 13,616 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In other Charles Schwab news, insider Jonathan Beatty sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel Murtagh sold 24,778 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 57,972 shares in the company, valued at approximately $6,319,527.72. This represents a 29.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 632,577 shares of company stock valued at $68,214,123. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of several research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $111.00 price target (up from $109.00) on shares of Charles Schwab in a research note on Friday, October 16th. Citizens Jmp reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Charles Schwab in a research report on Friday, October 16th. Argus lifted their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Bank of America boosted their price objective on shares of Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, October 5th. Finally, Deutsche Bank Aktiengesellschaft set a $125.00 target price on shares of Charles Schwab and gave the stock a “buy” rating in a research report on Friday, October 16th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $120.18.

Charles Schwab Stock Performance

NYSE:SCHW opened at $90.56 on Friday. The company has a market cap of $156.61 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.81 and a beta of 0.79. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $114.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a fifty day moving average price of $102.66 and a 200-day moving average price of $98.06.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. Charles Schwab’s revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the business earned $1.31 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 6.41 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, November 13th. Charles Schwab’s dividend payout ratio is presently 21.84%.

More Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab may benefit if short-term interest rates remain elevated. Higher yields can increase the income the cash-rich brokerage earns on client balances, potentially supporting net interest revenue and profitability. Why Charles Schwab Stock Could Benefit If Short Term Rates Stay Higher
• Positive Sentiment: The board declared a regular quarterly common-stock dividend of $0.32 per share, equivalent to $1.28 annually and a stated yield of approximately 1.4%. The dividend is payable November 27 to shareholders of record November 13. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Opening two Portland branches could expand Schwab’s local presence and support client acquisition, although the financial impact is likely modest initially. Schwab opens two new Portland branches to expand local access

Charles Schwab Profile

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.