First Interstate Bank Has $322,000 Stake in The Charles Schwab Corporation $SCHW

First Interstate Bank increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 12.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,531 shares of the financial services provider’s stock after buying an additional 400 shares during the quarter. First Interstate Bank’s holdings in Charles Schwab were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Princeton Global Asset Management LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter worth about $27,000. Westside Investment Management Inc. raised its position in shares of 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 during the period. Hoese & Co LLP grew its stake in Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its holdings in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley dropped their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Barclays increased their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BMO Capital Markets assumed coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. One 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 given a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $104.70.

Charles Schwab Price Performance

Shares of SCHW opened at $94.17 on Monday. The company has a market capitalization of $170.93 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $65.88 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 firm has a 50 day moving average of $94.68 and a 200 day moving average of $89.76.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the firm posted $0.71 earnings per share. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

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

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. 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 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

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.