CHICAGO TRUST Co NA Purchases Shares of 3,281 The Charles Schwab Corporation $SCHW

CHICAGO TRUST Co NA purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,281 shares of the financial services provider's stock, valued at approximately $299,000.

Other large investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. raised its holdings in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 191 shares during the period. Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter valued at about $31,000. Finally, Activest Wealth Management raised its holdings in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 399 shares during the period. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Piper Sandler lifted their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Bank of America lifted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Zacks Research downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Sixteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $100.00.

Insider Activity

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Down 1.7%

Shares of SCHW opened at $92.32 on Thursday. The Charles Schwab Corporation has a one year low of $62.41 and a one year high of $99.59. The company has a market cap of $167.57 billion, a P/E ratio of 24.82, a P/E/G ratio of 0.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $95.52 and a two-hundred day simple moving average of $87.63.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The company's revenue was up 24.8% on a year-over-year basis. Research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's payout ratio is presently 29.03%.

Charles Schwab announced that its board has authorized a share repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

About Charles Schwab

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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