The Charles Schwab Corporation $SCHW Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,944 shares of the financial services provider’s stock after selling 252 shares during the period. Citizens & Northern Corp’s holdings in Charles Schwab were worth $2,002,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. increased 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 buying an additional 150 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab in the second quarter worth $27,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the first quarter valued at $31,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,128 shares of company stock worth $26,232,077. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $95.12 on Wednesday. The company has a market capitalization of $172.66 billion, a P/E ratio of 22.28, a PEG ratio of 0.85 and a beta of 0.97. The company has a 50-day moving average of $94.55 and a 200-day moving average of $89.98. 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 Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59.

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

Charles Schwab declared that its Board of Directors has approved a share buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. TD Cowen raised their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Citigroup lifted their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Finally, Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.