Fulton Bank N.A. Sells 468 Shares of The Charles Schwab Co. (NYSE:SCHW)

Fulton Bank N.A. lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,465 shares of the financial services provider’s stock after selling 468 shares during the period. Fulton Bank N.A.’s holdings in Charles Schwab were worth $624,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lynx Investment Advisory acquired a new position in Charles Schwab during the second quarter worth approximately $146,000. Mather Group LLC. grew its position in shares of Charles Schwab by 19.4% in the second quarter. Mather Group LLC. now owns 6,535 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 1,062 shares during the last quarter. Tandem Capital Management Corp ADV grew its position in shares of Charles Schwab by 0.7% in the second quarter. Tandem Capital Management Corp ADV now owns 49,387 shares of the financial services provider’s stock valued at $3,615,000 after purchasing an additional 322 shares during the last quarter. Trust Co. of Toledo NA OH grew its position in shares of Charles Schwab by 32.8% in the second quarter. Trust Co. of Toledo NA OH now owns 4,352 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Boston Common Asset Management LLC grew its position in shares of Charles Schwab by 7.2% in the second quarter. Boston Common Asset Management LLC now owns 374,463 shares of the financial services provider’s stock valued at $27,594,000 after purchasing an additional 25,281 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW traded down $0.62 during trading hours on Wednesday, reaching $62.18. The stock had a trading volume of 3,737,216 shares, compared to its average volume of 8,006,836. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The stock has a market capitalization of $110.51 billion, a PE ratio of 26.28, a PEG ratio of 1.18 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The company’s 50-day moving average is $70.64 and its two-hundred day moving average is $70.04.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. Research analysts expect that The Charles Schwab Co. will post 3.09 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. Charles Schwab’s payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SCHW shares. TD Cowen reaffirmed a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Jefferies Financial Group increased their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Citigroup increased their price target on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Barclays reduced their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 17th. Finally, Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $74.27.

Insiders Place Their Bets

In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at approximately $8,630,986.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at approximately $8,630,986.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Richard A. Wurster bought 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average price of $62.05 per share, with a total value of $620,500.00. Following the completion of the purchase, the president now owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 273,586 shares of company stock worth $19,570,869. Company insiders own 6.60% of the company’s stock.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.