The Charles Schwab Corporation $SCHW Shares Bought by TIAA Trust National Association

TIAA Trust National Association grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 243.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,048 shares of the financial services provider’s stock after purchasing an additional 53,227 shares during the quarter. TIAA Trust National Association’s holdings in Charles Schwab were worth $6,847,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SCHW. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $25,000. RMG Wealth Management LLC purchased a new stake in Charles Schwab during the second quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Charles Schwab in the second quarter valued at approximately $32,000. Hoese & Co LLP increased its stake in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its holdings in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was 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 in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 65,866 shares of company stock worth $6,370,897. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 0.2%

SCHW opened at $94.62 on Monday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The business has a 50 day moving average price of $94.29 and a two-hundred day moving average price of $91.35. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market cap of $171.75 billion, a PE ratio of 22.16, a P/E/G ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released 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. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its board has initiated a stock buyback program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. TD Cowen boosted their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Bank of America upped their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.