Toronto Dominion Bank Raises Stake in Charles Schwab Co. (SCHW)

Toronto Dominion Bank lifted its position in shares of Charles Schwab Co. (NYSE:SCHW) by 16.3% in the first quarter, HoldingsChannel.com reports. The firm owned 786,005 shares of the financial services provider’s stock after purchasing an additional 110,414 shares during the period. Toronto Dominion Bank’s holdings in Charles Schwab were worth $33,601,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SCHW. Mn Services Vermogensbeheer B.V. lifted its position in Charles Schwab by 1.3% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 208,970 shares of the financial services provider’s stock worth $8,936,000 after acquiring an additional 2,700 shares in the last quarter. Sandy Spring Bank lifted its position in Charles Schwab by 4.4% during the 1st quarter. Sandy Spring Bank now owns 165,111 shares of the financial services provider’s stock worth $7,060,000 after acquiring an additional 6,971 shares in the last quarter. Signet Investment Advisory Group Inc. lifted its position in Charles Schwab by 6.5% during the 1st quarter. Signet Investment Advisory Group Inc. now owns 15,149 shares of the financial services provider’s stock worth $647,000 after acquiring an additional 925 shares in the last quarter. Stack Financial Management Inc lifted its position in Charles Schwab by 4.4% during the 1st quarter. Stack Financial Management Inc now owns 411,543 shares of the financial services provider’s stock worth $17,598,000 after acquiring an additional 17,452 shares in the last quarter. Finally, Cetera Advisor Networks LLC lifted its position in Charles Schwab by 9.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 12,133 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.

In related news, Director Charles A. Ruffel bought 2,500 shares of Charles Schwab stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $46.10 per share, with a total value of $115,250.00. Following the completion of the acquisition, the director now directly owns 788 shares in the company, valued at approximately $36,326.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $46.52, for a total value of $173,984.80. Following the sale, the executive vice president now directly owns 66,190 shares of the company’s stock, valued at $3,079,158.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 939,897 shares of company stock valued at $42,955,198. Insiders own 10.90% of the company’s stock.

SCHW has been the topic of several recent research reports. Zacks Investment Research lowered Charles Schwab from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. UBS Group lowered Charles Schwab from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $48.00 to $42.00 in a research report on Wednesday, February 20th. ValuEngine lowered Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Deutsche Bank reduced their price target on Charles Schwab from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Finally, Credit Suisse Group upped their target price on Charles Schwab from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. Charles Schwab currently has a consensus rating of “Buy” and a consensus price target of $53.22.

Shares of Charles Schwab stock traded up $0.73 during trading on Tuesday, hitting $44.54. The stock had a trading volume of 155,304 shares, compared to its average volume of 6,546,358. The company has a quick ratio of 0.83, a current ratio of 0.33 and a debt-to-equity ratio of 0.36. The firm has a market cap of $61.13 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.33. Charles Schwab Co. has a fifty-two week low of $37.83 and a fifty-two week high of $60.22.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.67 billion. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Analysts anticipate that Charles Schwab Co. will post 2.77 earnings per share for the current fiscal year.

Charles Schwab announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 30th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.53%. Charles Schwab’s dividend payout ratio (DPR) is 27.76%.

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Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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