Fifth Third Wealth Advisors LLC Buys 132 Shares of The Charles Schwab Corporation $SCHW

Fifth Third Wealth Advisors LLC lifted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,024 shares of the financial services provider’s stock after purchasing an additional 132 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Charles Schwab were worth $2,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pine Haven Investment Counsel Inc grew its holdings in shares of Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares in the last quarter. Traveka Wealth LLC grew its holdings in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 117 shares in the last quarter. Bank of Stockton grew its holdings in shares of Charles Schwab by 1.2% in the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 129 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. Truist Financial set a $112.00 target price on shares of Charles Schwab in a report on Thursday, October 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Barclays reaffirmed an “overweight” rating and set a $114.00 price objective on shares of Charles Schwab in a research note on Wednesday. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated 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 completion of the sale, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Down 2.1%

Shares of SCHW opened at $92.08 on Friday. The firm has a market capitalization of $167.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.89 and a beta of 0.97. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $94.97 and a 200-day moving average price of $89.13.

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. 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 firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its board has approved a stock buyback plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.