Northwest Investment Counselors LLC grew its position in shares of Charles Schwab Co. (NYSE:SCHW) by 30.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,261 shares of the financial services provider’s stock after purchasing an additional 7,242 shares during the period. Northwest Investment Counselors LLC’s holdings in Charles Schwab were worth $1,256,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Comerica Securities Inc. increased its holdings in Charles Schwab by 5.4% in the 4th quarter. Comerica Securities Inc. now owns 40,063 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 2,065 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Charles Schwab by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,723,959 shares of the financial services provider’s stock worth $113,124,000 after acquiring an additional 76,982 shares during the last quarter. Geode Capital Management LLC increased its holdings in Charles Schwab by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock worth $564,801,000 after acquiring an additional 758,069 shares during the last quarter. Perkins Coie Trust Co increased its holdings in Charles Schwab by 2.1% in the 1st quarter. Perkins Coie Trust Co now owns 58,161 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 1,175 shares during the last quarter. Finally, Bangor Savings Bank increased its holdings in Charles Schwab by 7.9% in the 1st quarter. Bangor Savings Bank now owns 18,121 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 1,321 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.
Several equities research analysts recently weighed in on SCHW shares. Bank of America lowered Charles Schwab from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $49.00 to $43.00 in a report on Friday, July 12th. JPMorgan Chase & Co. set a $44.00 price objective on Charles Schwab and gave the stock a “buy” rating in a report on Friday, June 21st. Keefe, Bruyette & Woods lowered Charles Schwab from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $43.50 in a report on Friday, July 12th. Deutsche Bank lowered Charles Schwab from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $52.00 to $43.00 in a report on Tuesday, June 18th. Finally, Argus restated a “buy” rating and issued a $52.00 target price (down previously from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Charles Schwab has a consensus rating of “Hold” and an average price target of $47.80.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Charles Schwab had a return on equity of 20.60% and a net margin of 35.29%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Charles Schwab Co. will post 2.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.74%. Charles Schwab’s dividend payout ratio is currently 27.76%.
In other news, Director Stephen T. Mclin sold 4,356 shares of Charles Schwab stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $43.85, for a total transaction of $191,010.60. Following the completion of the sale, the director now owns 7,592 shares in the company, valued at approximately $332,909.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.
Charles Schwab Company 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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