The Charles Schwab Corporation $SCHW Shares Bought by Whittier Trust Co.

Whittier Trust Co. raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 380,291 shares of the financial services provider’s stock after buying an additional 11,297 shares during the period. Whittier Trust Co.’s holdings in Charles Schwab were worth $34,697,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pine Haven Investment Counsel Inc boosted its holdings in Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares during the last quarter. Traveka Wealth LLC boosted its holdings in shares of Charles Schwab by 4.3% during the 2nd 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. Tlwm boosted its holdings in shares of Charles Schwab by 0.7% during the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after purchasing an additional 120 shares during the last quarter. Bank of Stockton boosted its holdings in shares of Charles Schwab by 1.2% during the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after purchasing an additional 123 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 129 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SCHW shares. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley lowered their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Barclays boosted their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Raymond James Financial restated an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Charles Schwab Trading Up 0.8%

SCHW opened at $94.93 on Tuesday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The stock has a market capitalization of $172.32 billion, a PE ratio of 22.23, a P/E/G ratio of 0.88 and a beta of 0.97. The business’s 50 day moving average price is $94.62 and its 200 day moving average price is $89.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last released 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. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given 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 payout ratio is presently 25.29%.

Charles Schwab announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s 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 sale, the insider owned 11,923 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’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 approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock valued at $26,232,077 over the last quarter. 6.30% of the stock is owned by corporate insiders.

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.