Citizens Business Bank Raises Holdings in The Charles Schwab Corporation $SCHW

Citizens Business Bank grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,115 shares of the financial services provider’s stock after purchasing an additional 2,160 shares during the quarter. Charles Schwab comprises approximately 1.2% of Citizens Business Bank’s investment portfolio, making the stock its 22nd biggest holding. Citizens Business Bank’s holdings in Charles Schwab were worth $6,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SCHW. Brighton Jones LLC grew its holdings in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the last quarter. GAMMA Investing LLC grew its holdings in Charles Schwab by 28.2% in the first quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 5,973 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Charles Schwab by 9.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,087,355 shares of the financial services provider’s stock worth $85,118,000 after purchasing an additional 95,336 shares during the last quarter. Sowell Financial Services LLC purchased a new position in Charles Schwab in the first quarter worth $533,000. Finally, QRG Capital Management Inc. grew its holdings in Charles Schwab by 1.4% in the first quarter. QRG Capital Management Inc. now owns 27,074 shares of the financial services provider’s stock worth $2,119,000 after purchasing an additional 375 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several analyst reports. Bank of America lifted 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. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday. Raymond James Financial reiterated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, TD Cowen lifted their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.70.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% 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 ninety days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.8%

NYSE SCHW opened at $94.17 on Friday. The company has a market capitalization of $170.93 billion, a PE ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a fifty day moving average of $94.68 and a 200 day moving average of $89.58. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. Research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

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

About Charles Schwab

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.