CNB Bank Reduces Holdings in The Charles Schwab Corporation $SCHW

CNB Bank lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,140 shares of the financial services provider’s stock after selling 1,078 shares during the quarter. CNB Bank’s holdings in Charles Schwab were worth $378,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP lifted its position in Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after purchasing an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA lifted its position in Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Charles Schwab during the first quarter valued at $440,699,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.2%

Shares of SCHW opened at $94.37 on Friday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month 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. The company’s fifty day simple moving average is $94.43 and its 200-day simple moving average is $90.35. The company has a market cap of $171.30 billion, a P/E ratio of 22.10, a P/E/G ratio of 0.85 and a beta of 0.97.

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

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Charles Schwab announced that its Board of Directors has initiated a stock buyback 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 buy up to 11.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Barclays lifted their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Bank of America lifted their target price on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Finally, BMO Capital Markets assumed coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insiders Place Their Bets

In other news, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,128 shares of company stock valued at $26,232,077. 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.