National Bank of Canada FI Sells 171,770 Shares of The Charles Schwab Co. (NYSE:SCHW)

National Bank of Canada FI decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 25.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 505,288 shares of the financial services provider’s stock after selling 171,770 shares during the period. National Bank of Canada FI’s holdings in Charles Schwab were worth $37,096,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Country Trust Bank bought a new stake in Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC bought a new position in Charles Schwab during the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC raised its stake in Charles Schwab by 97.5% during the second 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 during the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab in the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab in the second quarter worth $29,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 0.3 %

NYSE:SCHW opened at $63.69 on Friday. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The business has a fifty day moving average price of $66.66 and a 200-day moving average price of $70.07. The firm has a market capitalization of $113.27 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,800 shares of company stock valued at $7,145,364. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Cowen reiterated a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group upped their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $64.00 in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.00.

Charles Schwab 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.