118,279 Shares in The Charles Schwab Corporation $SCHW Acquired by Glenview Trust Co

Key Points

• Glenview Trust Co. acquired 118,279 Charles Schwab shares in the second quarter, valued at approximately $10.9 million. Institutional investors collectively own 84.38% of SCHW.
• Charles Schwab exceeded quarterly expectations, reporting $1.62 in EPS and $7.07 billion in revenue, with revenue up 20.9% year over year. The company also announced a quarterly dividend of $0.32 per share, or a 1.2% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $121.17 price target, but insider selling—including a roughly $20 million sale by Chairman Walter Bettinger—could concern investors.

Glenview Trust Co purchased a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 118,279 shares of the financial services provider's stock, valued at approximately $10,914,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Charles Schwab by 1.0% during the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider's stock worth $6,984,231,000 after acquiring an additional 691,671 shares during the last quarter. Geode Capital Management LLC grew its stake in Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider's stock valued at $3,747,646,000 after acquiring an additional 98,242 shares in the last quarter. Franklin Resources Inc. increased its holdings in Charles Schwab by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider's stock valued at $3,015,720,000 after acquiring an additional 78,020 shares during the last quarter. Primecap Management Co. CA increased its holdings in Charles Schwab by 9.7% in the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider's stock valued at $2,325,512,000 after acquiring an additional 2,066,884 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Charles Schwab by 0.8% in the 4th quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider's stock worth $2,179,888,000 after purchasing an additional 171,926 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Charles Schwab stock opened at $108.09 on Friday. The company's 50-day moving average price is $103.05 and its 200-day moving average price is $96.29. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The company has a market cap of $186.93 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The firm had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.90 billion. During the same period in the prior year, the company earned $1.14 EPS. The business's revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab's dividend payout ratio is 23.27%.

Charles Schwab News Roundup

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab plans to expand Schwab Crypto beyond Bitcoin and Ethereum by adding Solana, Avalanche and Chainlink in the coming months. The broader digital-asset lineup could attract new clients, increase engagement and create additional trading-related revenue opportunities. Charles Schwab to add Solana, Avalanche and Chainlink to crypto platform
• Positive Sentiment: OneVest has gone live on Schwab’s Digital Account Opening API, including a headless integration option. The partnership broadens Schwab’s fintech connectivity and could strengthen its custody and advisor-technology platform. OneVest Goes Live on Schwab's Digital Account Opening API
• Neutral Sentiment: Schwab is publishing guidance on retirement withdrawals and other savings “money traps.” The content may support customer trust and financial education, but it is unlikely to materially affect near-term earnings. Schwab says one common 401(k) withdrawal habit raises taxes
• Negative Sentiment: Vanguard’s $4 billion Altruist acquisition could intensify competition for independent advisors and custody assets, potentially increasing Schwab’s technology spending and pricing pressure. Vanguard Takes On Fidelity, Charles Schwab With $4 Billion Altruist Deal
• Negative Sentiment: Chairman Walter Bettinger sold 176,210 SCHW shares for approximately $20 million, reducing his ownership by 22.4%. The sizable disclosed sale may reinforce investor caution, particularly after the stock’s strong rally and recent high. SEC insider transaction filing
• Negative Sentiment: Schwab remains sensitive to interest-rate expectations and bank-sweep balances. Recent macro uncertainty and profit-taking after strong earnings appear to be outweighing the potential near-term benefit from its crypto expansion.

Analyst Ratings Changes

Several research firms have commented on SCHW. Zacks Research raised shares of Charles Schwab from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Compass Point began coverage on Charles Schwab in a research report on Monday, August 3rd. They issued a "buy" rating and a $135.00 target price on the stock. Piper Sandler set a $118.00 price target on Charles Schwab in a research note on Tuesday, July 21st. Citigroup restated a "market outperform" rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $145.00 price objective on shares of Charles Schwab in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $111.33, for a total transaction of $111,330.00. Following the transaction, the insider owned 10,738 shares of the company's stock, valued at approximately $1,195,461.54. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 176,210 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $113.49, for a total value of $19,998,072.90. Following the transaction, the chairman directly owned 610,360 shares in the company, valued at approximately $69,269,756.40. This represents a 22.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 575,194 shares of company stock valued at $61,697,642. Corporate insiders own 6.30% of the company's stock.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source