IMS Capital Management Takes $1.28 Million Position in The Charles Schwab Corporation $SCHW

IMS Capital Management purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 14,002 shares of the financial services provider’s stock, valued at approximately $1,278,000.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab during the 1st quarter valued at $25,000. Westside Investment Management Inc. raised its stake in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position 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 during the period. Stone House Investment Management LLC acquired a new stake in Charles Schwab during the first quarter worth about $31,000. Finally, Activest Wealth Management increased its holdings in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Citigroup upped their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Truist Financial lifted their price target on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Barclays upped their price objective on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Finally, Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on 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 directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the sale, the insider directly owned 37,983 shares of the company’s stock, valued at approximately $3,615,981.60. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,213 shares of company stock valued at $26,232,180 over the last 90 days. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $93.89 on Wednesday. The stock’s 50-day moving average is $95.50 and its 200-day moving average is $87.59. The Charles Schwab Corporation has a 1-year low of $62.41 and a 1-year high of $99.59. 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 stock has a market cap of $170.43 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the company earned $0.73 EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab declared that its Board of Directors has initiated a stock buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.