Crumly & Associates Inc. Cuts Stake in The Charles Schwab Corporation $SCHW

Crumly & Associates Inc. cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,027 shares of the financial services provider’s stock after selling 183 shares during the period. Crumly & Associates Inc.’s holdings in Charles Schwab were worth $824,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the first quarter valued at $25,000. Westside Investment Management Inc. boosted its position in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at $31,000. Finally, Activest Wealth Management boosted its position in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JMP Securities increased their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. Truist Financial raised their target price on Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Barclays raised their target price on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Finally, Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.60.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider directly owned 39,154 shares in the company, valued at $3,524,251.54. This trade represents a 20.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,214 shares of company stock valued at $29,022,580. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 0.5%

NYSE SCHW opened at $93.50 on Friday. The stock’s 50-day moving average price is $95.41 and its 200-day moving average price is $86.76. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 52 week low of $61.81 and a 52 week high of $99.59. The company has a market capitalization of $169.72 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.