Huntington National Bank Has $3.47 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Huntington National Bank cut its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,055 shares of the financial services provider’s stock after selling 541 shares during the period. Huntington National Bank’s holdings in Charles Schwab were worth $3,472,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SCHW. Brighton Jones LLC boosted its stake in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Charles Schwab by 12.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 15,388 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 1,673 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Charles Schwab by 6.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,781,015 shares of the financial services provider’s stock valued at $452,538,000 after purchasing an additional 351,198 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Charles Schwab by 307.2% during the 1st quarter. TD Private Client Wealth LLC now owns 19,808 shares of the financial services provider’s stock valued at $1,551,000 after purchasing an additional 14,943 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in Charles Schwab by 37.4% during the 1st quarter. Brown Advisory Inc. now owns 6,454,052 shares of the financial services provider’s stock valued at $505,223,000 after purchasing an additional 1,757,720 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.84 on Wednesday. The business’s 50 day simple moving average is $94.16 and its 200 day simple moving average is $91.59. 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 Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a market cap of $170.33 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued 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 net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. Sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Announces Dividend

The firm also recently declared 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. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,866 shares of company stock worth $6,370,897 over the last three months. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. Bank of America lifted their price target on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Barclays lifted their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

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.