Violich Capital Management Inc. Purchases New Stake in The Charles Schwab Corporation $SCHW

Violich Capital Management Inc. purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,400 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other large investors have also recently bought and sold shares of the business. Wealthstream Advisors Inc. acquired a new position in Charles Schwab during the second quarter valued at $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Charles Schwab during the second quarter valued at $16,971,000. United Bank raised its position in Charles Schwab by 7.1% during the second quarter. United Bank now owns 16,053 shares of the financial services provider’s stock valued at $1,465,000 after buying an additional 1,070 shares during the period. Quotient Wealth Partners LLC raised its position in Charles Schwab by 33.4% during the second quarter. Quotient Wealth Partners LLC now owns 6,125 shares of the financial services provider’s stock valued at $559,000 after buying an additional 1,532 shares during the period. Finally, Koshinski Asset Management Inc. raised its position in Charles Schwab by 3.9% during the second quarter. Koshinski Asset Management Inc. now owns 13,708 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 512 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $94.17 on Friday. 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 firm has a market cap of $170.93 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The business’s 50-day simple moving average is $94.68 and its 200-day simple moving average is $89.66. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

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

Charles Schwab announced that its Board of Directors has approved a share buyback 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 generally a sign that the company’s management believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,128 shares of company stock worth $26,232,077. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research report on Friday. BMO Capital Markets initiated coverage on Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price on the stock. Citigroup upped 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $104.70.

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.