Rockland Trust Co. Increases Stake in The Charles Schwab Corporation $SCHW

Rockland Trust Co. increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,764 shares of the financial services provider’s stock after purchasing an additional 34,588 shares during the period. Charles Schwab accounts for about 1.4% of Rockland Trust Co.’s portfolio, making the stock its 19th largest position. Rockland Trust Co.’s holdings in Charles Schwab were worth $36,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 19,195 shares during the period. Sivia Capital Partners LLC lifted its position in Charles Schwab by 21.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 809 shares during the period. United Bank grew its stake in Charles Schwab by 7.1% during the 2nd quarter. United Bank now owns 16,053 shares of the financial services provider’s stock valued at $1,465,000 after purchasing an additional 1,070 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Charles Schwab during the 2nd quarter valued at about $552,000. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Charles Schwab by 4.7% in the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $107.55 on Friday. The stock has a market cap of $187.04 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76. The business has a 50-day simple moving average of $97.28 and a 200-day simple moving average of $95.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $109.05.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, equities analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is presently 23.27%.

Insiders Place Their Bets

In related news, insider Dennis Howard sold 28,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total value of $2,940,280.00. Following the completion of the transaction, the insider directly owned 10,470 shares in the company, valued at $1,099,454.70. The trade was a 72.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total transaction of $208,420.00. Following the sale, the insider directly owned 11,738 shares in the company, valued at $1,223,216.98. This trade represents a 14.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 363,848 shares of company stock worth $37,874,706. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Piper Sandler set a $118.00 target price on Charles Schwab in a research report on Tuesday, July 21st. Morgan Stanley increased their price target on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Argus raised their price target on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Barclays lifted their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $121.17.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.