Vest Financial LLC Boosts Holdings in The Charles Schwab Corporation $SCHW

Vest Financial LLC boosted its position in The Charles Schwab Corporation (NYSE:SCHW) by 42.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,112 shares of the financial services provider’s stock after buying an additional 6,267 shares during the period. Vest Financial LLC’s holdings in Charles Schwab were worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cypress Capital Group purchased a new position in Charles Schwab in the 2nd quarter valued at $258,000. Hazlett Burt & Watson Inc. grew its position in Charles Schwab by 535.1% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 3,296 shares of the financial services provider’s stock valued at $298,000 after buying an additional 2,777 shares during the last quarter. Almanack Investment Partners LLC. purchased a new position in Charles Schwab in the 2nd quarter valued at $226,000. LRI Investments LLC grew its position in Charles Schwab by 62.0% in the 2nd quarter. LRI Investments LLC now owns 3,708 shares of the financial services provider’s stock valued at $338,000 after buying an additional 1,419 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after buying an additional 40,275 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 0.1%

Charles Schwab stock opened at $93.39 on Wednesday. The stock has a market cap of $169.53 billion, a PE ratio of 25.11, a P/E/G ratio of 0.89 and a beta of 0.97. The stock has a 50-day moving average price of $94.83 and a 200 day moving average price of $89.33. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week 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.

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

Charles Schwab Announces Dividend

The business 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. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab announced that its board has approved a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on SCHW. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Truist Financial set a $112.00 target price on Charles Schwab in a report on Thursday, October 2nd. Finally, William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.85.

Insider Activity

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

About Charles Schwab

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.