Fifth Third Bancorp Sells 1,943 Shares of The Charles Schwab Co. (NYSE:SCHW)

Fifth Third Bancorp decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,443 shares of the financial services provider’s stock after selling 1,943 shares during the period. Fifth Third Bancorp’s holdings in Charles Schwab were worth $15,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SCHW. Country Trust Bank bought a new position in Charles Schwab in the second quarter worth $26,000. Fortitude Family Office LLC boosted its holdings in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab in the 2nd quarter worth about $29,000. Tributary Capital Management LLC bought a new position in shares of Charles Schwab in the 1st quarter worth about $31,000. Finally, Frazier Financial Advisors LLC purchased a new position in Charles Schwab during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at approximately $9,124,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard J. Clark sold 77,431 shares of Charles Schwab stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the transaction, the insider now owns 121,666 shares in the company, valued at $8,630,986.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,231 shares of company stock worth $12,638,320. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

SCHW traded down $0.27 during midday trading on Wednesday, hitting $64.57. 7,610,626 shares of the company traded hands, compared to its average volume of 7,982,588. The company’s 50-day moving average is $68.79 and its 200 day moving average is $70.06. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $114.76 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $76.00 to $84.00 in a research note on Monday, July 8th. UBS Group reduced their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Barclays dropped their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $74.27.

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.