Private Trust Co. NA Sells 373 Shares of The Charles Schwab Corporation $SCHW

Private Trust Co. NA cut its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,163 shares of the financial services provider’s stock after selling 373 shares during the period. Private Trust Co. NA’s holdings in Charles Schwab were worth $471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc boosted its stake in Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 110 shares during the last quarter. Traveka Wealth LLC boosted its stake in Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after buying an additional 117 shares during the last quarter. Tlwm lifted its stake in shares of Charles Schwab by 0.7% in the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock valued at $1,614,000 after purchasing an additional 120 shares during the last quarter. Bank of Stockton lifted its stake in shares of Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 123 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in shares of Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 129 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Transactions at Charles Schwab

In other 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 value of $594,800.64. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The shares were 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. In the last 90 days, insiders sold 267,128 shares of company stock valued at $26,232,077. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.8%

Shares of NYSE SCHW opened at $94.17 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The business’s 50 day moving average price is $94.68 and its 200-day moving average price is $89.76. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a market cap of $170.93 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.88 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping 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 firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

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 issued a $0.27 dividend. 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 is presently 25.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SCHW. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research note on Friday. Bank of America raised their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $104.70.

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.