Perigon Wealth Management LLC increased its position in shares of Charles Schwab Co. (NYSE:SCHW) by 20.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,563 shares of the financial services provider’s stock after acquiring an additional 1,989 shares during the period. Perigon Wealth Management LLC’s holdings in Charles Schwab were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. CX Institutional boosted its stake in shares of Charles Schwab by 109.9% in the 1st quarter. CX Institutional now owns 745 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 390 shares in the last quarter. Ameritas Investment Company LLC purchased a new stake in Charles Schwab during the 1st quarter valued at about $29,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in Charles Schwab during the 1st quarter valued at about $32,000. Ballast Advisors LLC purchased a new stake in Charles Schwab during the 1st quarter valued at about $33,000. Finally, AGF Investments LLC purchased a new stake in shares of Charles Schwab during the 1st quarter valued at about $33,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on SCHW shares. Deutsche Bank raised their price target on shares of Charles Schwab from $37.00 to $38.00 and gave the company a “hold” rating in a report on Friday, July 17th. Bank of America dropped their price target on shares of Charles Schwab from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Citigroup raised their price target on shares of Charles Schwab from $38.00 to $38.50 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Argus dropped their price target on shares of Charles Schwab from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Finally, Wolfe Research raised shares of Charles Schwab from an “underperform” rating to a “peer perform” rating and set a $36.00 price target on the stock in a report on Thursday, July 9th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $42.50.
SCHW opened at $33.15 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.36. The company has a market cap of $42.68 billion, a price-to-earnings ratio of 13.21 and a beta of 1.25. The company’s 50 day moving average is $34.61 and its 200 day moving average is $37.89. Charles Schwab Co. has a 12-month low of $28.00 and a 12-month high of $51.65.
Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, July 16th. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Charles Schwab had a net margin of 31.48% and a return on equity of 16.88%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter last year, the business earned $0.66 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. As a group, analysts predict that Charles Schwab Co. will post 2.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, August 6th. Charles Schwab’s payout ratio is 26.47%.
In other Charles Schwab news, EVP Jonathan M. Craig sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $40.02, for a total transaction of $437,618.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 65,056 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $33.19, for a total transaction of $2,159,208.64. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by company insiders.
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.
Further Reading: Street Name
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