Northside Capital Management LLC Invests $229,000 in The Charles Schwab Corporation $SCHW

Northside Capital Management LLC acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,506 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Brighton Jones LLC raised its holdings in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 19,195 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in Charles Schwab by 8.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 32,827 shares of the financial services provider’s stock valued at $2,430,000 after acquiring an additional 2,599 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Charles Schwab in the 4th quarter valued at $50,000. Pinnacle Wealth Planning Services Inc. raised its holdings in Charles Schwab by 10.9% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 5,794 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 568 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Charles Schwab in the 4th quarter valued at $82,351,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on SCHW. Citigroup lifted their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Barclays lifted their price target on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, 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. Sixteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Insider Buying and Selling at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,213 shares of company stock worth $26,232,180 over the last three months. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 0.6%

Shares of SCHW stock opened at $93.89 on Wednesday. The firm has a market capitalization of $170.43 billion, a P/E ratio of 25.24, a P/E/G ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59. 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 stock’s fifty day simple moving average is $95.50 and its 200 day simple moving average is $87.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is currently 29.03%.

Charles Schwab declared that its Board of Directors has approved 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 repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management 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.