Charles Schwab Co. (NYSE:SCHW) Position Lessened by Trust Co. of Vermont

Trust Co. of Vermont reduced its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 7.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,766 shares of the financial services provider’s stock after selling 1,258 shares during the quarter. Trust Co. of Vermont’s holdings in Charles Schwab were worth $674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sumitomo Life Insurance Co. raised its holdings in Charles Schwab by 4.2% during the second quarter. Sumitomo Life Insurance Co. now owns 56,900 shares of the financial services provider’s stock valued at $2,287,000 after buying an additional 2,296 shares in the last quarter. Chemical Bank raised its holdings in Charles Schwab by 2.3% during the second quarter. Chemical Bank now owns 54,203 shares of the financial services provider’s stock valued at $2,179,000 after buying an additional 1,236 shares in the last quarter. Asset Advisors Investment Management LLC raised its holdings in Charles Schwab by 2.0% during the second quarter. Asset Advisors Investment Management LLC now owns 180,940 shares of the financial services provider’s stock valued at $7,272,000 after buying an additional 3,605 shares in the last quarter. McGuire Investment Group LLC raised its holdings in Charles Schwab by 0.3% during the second quarter. McGuire Investment Group LLC now owns 166,674 shares of the financial services provider’s stock valued at $6,699,000 after buying an additional 514 shares in the last quarter. Finally, Northwest Investment Counselors LLC raised its holdings in Charles Schwab by 30.2% during the second quarter. Northwest Investment Counselors LLC now owns 31,261 shares of the financial services provider’s stock valued at $1,256,000 after buying an additional 7,242 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Shares of Charles Schwab stock traded down $2.05 during trading on Wednesday, reaching $37.36. The company’s stock had a trading volume of 12,346,974 shares, compared to its average volume of 9,969,583. Charles Schwab Co. has a one year low of $37.83 and a one year high of $52.70. The company has a market cap of $54.40 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The stock has a fifty day moving average price of $41.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Charles Schwab Co. will post 2.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 27.76%.

A number of research firms have recently commented on SCHW. Wells Fargo & Co upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, July 22nd. Bank of America lowered Charles Schwab from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $49.00 to $43.00 in a research note on Friday, July 12th. Compass Point set a $45.00 price objective on Charles Schwab and gave the stock a “hold” rating in a research note on Tuesday, July 2nd. Argus reiterated a “buy” rating and issued a $52.00 price objective (down from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, ValuEngine lowered Charles Schwab from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.80.

In related news, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $40.20, for a total transaction of $150,348.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Goldfarb bought 2,595 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $38.68 per share, for a total transaction of $100,374.60. Following the completion of the transaction, the director now owns 3,771 shares of the company’s stock, valued at $145,862.28. The disclosure for this purchase can be found here. 10.90% of the stock is owned by company insiders.

About Charles Schwab

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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