Banco Bilbao Vizcaya Argentaria S.A. Sells 6,092 Shares of The Charles Schwab Corporation $SCHW

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 5.0% in the 2nd quarter, Holdings Channel reports. The fund owned 116,913 shares of the financial services provider’s stock after selling 6,092 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Charles Schwab were worth $10,664,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SCHW. Vanguard Personalized Indexing Management LLC lifted its position in Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after buying an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in shares of Charles Schwab during the first quarter worth approximately $79,605,000. Independent Advisor Alliance raised its stake in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after acquiring an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC boosted its stake in shares of Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $94.37 on Friday. 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 firm has a market cap of $167.70 billion, a P/E ratio of 22.10, a P/E/G ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The firm has a 50-day moving average of $94.06 and a 200-day moving average of $92.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the previous year, the business earned $0.71 EPS. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Dividend Announcement

The firm also recently announced 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Insider Buying and Selling

In related news, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 68,938 shares of company stock valued at $6,671,953 over the last quarter. 6.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on SCHW. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Truist Financial upped their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. TD Cowen boosted their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab 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.