Valley National Advisers Inc. Sells 342 Shares of The Charles Schwab Corporation $SCHW

Valley National Advisers Inc. reduced its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.3% in the second quarter, HoldingsChannel.com reports. The firm owned 25,639 shares of the financial services provider’s stock after selling 342 shares during the period. Valley National Advisers Inc.’s holdings in Charles Schwab were worth $2,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC lifted its stake in Charles Schwab by 3,811.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,509,824 shares of the financial services provider’s stock worth $137,756,000 after purchasing an additional 1,471,219 shares in the last quarter. Three Bridge Wealth Advisors LLC raised its position in Charles Schwab by 46.1% in the 2nd quarter. Three Bridge Wealth Advisors LLC now owns 3,970 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 1,252 shares during the period. Merit Financial Group LLC lifted its stake in shares of Charles Schwab by 21.8% during the 2nd quarter. Merit Financial Group LLC now owns 54,670 shares of the financial services provider’s stock worth $4,988,000 after acquiring an additional 9,784 shares during the last quarter. Simplicity Wealth LLC boosted its stake in shares of Charles Schwab by 134.2% during the second quarter. Simplicity Wealth LLC now owns 10,996 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 6,300 shares during the period. Finally, OLD National Bancorp IN boosted its position in Charles Schwab by 22.4% in the 2nd quarter. OLD National Bancorp IN now owns 20,358 shares of the financial services provider’s stock valued at $1,857,000 after buying an additional 3,727 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.5%

Shares of NYSE SCHW opened at $94.13 on Monday. 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 $64.07 and a 52-week high of $99.59. The business has a 50-day moving average price of $95.37 and a 200 day moving average price of $88.71. The stock has a market cap of $170.87 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the business posted $0.73 EPS. Charles Schwab’s quarterly revenue was up 24.8% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 29.03%.

Insider Transactions at Charles Schwab

In other Charles Schwab 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 value of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock valued at $26,232,077 over the last quarter. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SCHW. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research report on Saturday, September 27th. BMO Capital Markets initiated coverage on Charles Schwab in a research note on Friday. They set an “outperform” rating and a $110.00 price target on the stock. Barclays lifted their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Truist Financial set a $112.00 price target on Charles Schwab in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.52.

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.