Community Trust & Investment Co. Buys Shares of 39,709 The Charles Schwab Corporation $SCHW

Community Trust & Investment Co. bought a new position in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 39,709 shares of the financial services provider’s stock, valued at approximately $3,664,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Dogwood Wealth Management LLC lifted its holdings in shares of Charles Schwab by 99.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Optima Capital LLC bought a new stake in Charles Schwab during the 4th quarter worth approximately $30,000. Scarborough Advisors LLC acquired a new stake in Charles Schwab during the 1st quarter worth approximately $29,000. McIlrath & Eck LLC raised its holdings in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after buying an additional 189 shares during the period. Finally, Main Street Group LTD bought a new position in Charles Schwab in the first quarter valued at approximately $33,000. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SCHW. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 price objective on shares of Charles Schwab in a research report on Wednesday, July 22nd. Wolfe Research reaffirmed an “outperform” rating and issued a $127.00 target price on shares of Charles Schwab in a research note on Tuesday, July 21st. Morgan Stanley increased their target price on Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Zacks Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $121.17.

Insiders Place Their Bets

In other Charles Schwab news, insider Dennis Howard sold 28,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was 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. This trade represents a 72.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total value of $709,312.56. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 363,848 shares of company stock valued at $37,874,706 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $107.55 on Friday. The company’s fifty day simple moving average is $97.28 and its 200-day simple moving average is $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 firm has a market cap of $187.04 billion, a PE ratio of 19.55, a P/E/G ratio of 0.82 and a beta of 0.76. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $109.05.

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

Charles Schwab Announces Dividend

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

About Charles Schwab

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.