Bremer Bank National Association reduced its position in Charles Schwab Co. (NYSE:SCHW) by 70.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,031 shares of the financial services provider’s stock after selling 36,648 shares during the quarter. Bremer Bank National Association’s holdings in Charles Schwab were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Blume Capital Management Inc. raised its stake in shares of Charles Schwab by 21.7% in the second quarter. Blume Capital Management Inc. now owns 1,400 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 250 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of Charles Schwab by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 7,400 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 260 shares during the period. Associated Banc Corp raised its stake in shares of Charles Schwab by 1.6% in the second quarter. Associated Banc Corp now owns 16,864 shares of the financial services provider’s stock valued at $678,000 after acquiring an additional 267 shares during the period. Grove Bank & Trust raised its stake in shares of Charles Schwab by 1.9% in the second quarter. Grove Bank & Trust now owns 14,850 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 280 shares during the period. Finally, Clear Perspective Advisors LLC raised its stake in shares of Charles Schwab by 6.2% in the second quarter. Clear Perspective Advisors LLC now owns 5,024 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 295 shares during the period. Institutional investors and hedge funds own 79.02% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 105,422 shares of Charles Schwab stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $42.03, for a total transaction of $4,430,886.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen T. Mclin sold 5,093 shares of Charles Schwab stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total value of $191,293.08. Following the transaction, the director now owns 7,297 shares in the company, valued at approximately $274,075.32. The disclosure for this sale can be found here. Insiders sold a total of 219,677 shares of company stock worth $8,997,842 in the last three months. 10.90% of the stock is owned by corporate insiders.
Shares of Charles Schwab stock traded up $1.14 during midday trading on Friday, hitting $37.28. The company had a trading volume of 10,364,754 shares, compared to its average volume of 11,125,315. Charles Schwab Co. has a 12-month low of $34.58 and a 12-month high of $49.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. The stock has a market cap of $46.63 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.39 and a beta of 1.32. The company has a fifty day simple moving average of $39.40 and a 200 day simple moving average of $41.63.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.68 billion. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. Charles Schwab’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. As a group, analysts expect that Charles Schwab Co. will post 2.63 EPS for the current year.
A number of research analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $43.50 in a report on Friday, July 12th. Citigroup upped their price target on shares of Charles Schwab from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Morgan Stanley restated a “buy” rating on shares of Charles Schwab in a report on Friday, September 27th. ValuEngine upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Wolfe Research upgraded shares of Charles Schwab from a “peer perform” rating to an “outperform” rating and increased their target price for the stock from $42.00 to $46.00 in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.34.
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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