Wilmington Savings Fund Society FSB Sells 3,595 Shares of The Charles Schwab Corporation $SCHW

Wilmington Savings Fund Society FSB trimmed its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,833 shares of the financial services provider’s stock after selling 3,595 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Charles Schwab were worth $6,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its position in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares during the period. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter worth $27,000. CBIZ Investment Advisory Services LLC boosted 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 bought a new position in Charles Schwab during the first quarter worth $31,000. Finally, Activest Wealth Management boosted its position in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares during the period. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial set a $112.00 price objective on shares of Charles Schwab in a research report on Thursday, October 2nd. JMP Securities upped their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.85.

Charles Schwab Trading Down 0.1%

SCHW opened at $93.39 on Wednesday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a 50-day simple moving average of $94.83 and a 200 day simple moving average of $89.33. 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 has a market capitalization of $169.53 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share 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 during the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. 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 of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab declared that its board has approved a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The shares were 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 Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% 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 valued at $26,232,077 over the last three months. 6.30% of the stock is owned by insiders.

Charles Schwab 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.