9,864 Shares in The Charles Schwab Corporation $SCHW Acquired by USA Financial Formulas

Key Points

• USA Financial Formulas acquired 9,864 shares of The Charles Schwab Corporation in Q2, valued at approximately $900,000.
• Charles Schwab recently announced a $20 billion stock buyback plan indicating the board's belief that the stock is undervalued.
• Analysts have given the stock a consensus rating of "Moderate Buy" with an average price target of $99.95.

USA Financial Formulas bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,864 shares of the financial services provider's stock, valued at approximately $900,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SCHW. Brighton Jones LLC boosted its holdings in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after acquiring an additional 19,195 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in Charles Schwab by 17.9% in the first quarter. AdvisorNet Financial Inc now owns 967 shares of the financial services provider's stock worth $76,000 after acquiring an additional 147 shares in the last quarter. NBC Securities Inc. boosted its holdings in Charles Schwab by 109,827.3% in the first quarter. NBC Securities Inc. now owns 12,092 shares of the financial services provider's stock worth $946,000 after acquiring an additional 12,081 shares in the last quarter. LVW Advisors LLC bought a new position in Charles Schwab in the first quarter worth approximately $209,000. Finally, Merit Financial Group LLC boosted its holdings in Charles Schwab by 33.8% in the first quarter. Merit Financial Group LLC now owns 44,886 shares of the financial services provider's stock worth $3,514,000 after acquiring an additional 11,340 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays increased their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Piper Sandler raised their target price on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, William Blair lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.95.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $92.22 on Thursday. The business's fifty day simple moving average is $95.50 and its 200 day simple moving average is $88.36. The firm has a market capitalization of $167.39 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is 29.03%.

Charles Schwab announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total value of $305,116.00. Following the sale, the insider owned 37,983 shares in the company, valued at $3,615,981.60. This trade represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,923 shares of company stock valued at $25,932,955 in the last ninety days. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Company 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.

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