Matisse Capital Sells 1,260 Shares of The Charles Schwab Corporation $SCHW

Matisse Capital lowered its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,010 shares of the financial services provider’s stock after selling 1,260 shares during the period. Matisse Capital’s holdings in Charles Schwab were worth $1,096,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in SCHW. Pine Haven Investment Counsel Inc lifted its stake in Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after purchasing an additional 110 shares during the last quarter. Traveka Wealth LLC lifted its stake in Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 117 shares during the last quarter. Bank of Stockton increased its holdings in shares of Charles Schwab by 1.2% during the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after buying an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after buying an additional 129 shares in the last quarter. Finally, HM Payson & Co. increased its holdings in shares of Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 130 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s 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 owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,128 shares of company stock valued at $26,232,077. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SCHW. JMP Securities upped their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, July 21st. Bank of America upped their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, Citigroup increased their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.

Charles Schwab Stock Down 0.1%

Shares of NYSE:SCHW opened at $93.94 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 52-week low of $64.26 and a 52-week high of $99.59. The business’s 50 day simple moving average is $95.21 and its two-hundred day simple moving average is $88.86. The firm has a market cap of $170.53 billion, a P/E ratio of 25.25, a PEG 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 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

Charles Schwab Announces Dividend

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

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.