Czech National Bank Boosts Stake in The Charles Schwab Corporation $SCHW

Key Points

• The Czech National Bank increased its stake in The Charles Schwab Corporation by 6.7%, owning 417,484 shares worth approximately $38 million as of the latest SEC filing.
• Charles Schwab reported strong quarterly earnings with a net margin of 33.68% and revenue up 24.8% year-over-year, surpassing analysts' expectations.
• The company has authorized a $20 billion stock buyback program, indicating a belief that its shares may be undervalued, and it recently declared a quarterly dividend of $0.27 per share.

Czech National Bank boosted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 6.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 417,484 shares of the financial services provider's stock after buying an additional 26,076 shares during the quarter. Czech National Bank's holdings in Charles Schwab were worth $38,091,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Atwood & Palmer Inc. purchased a new stake in Charles Schwab in the 1st quarter valued at approximately $25,000. Westside Investment Management Inc. lifted its stake in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth $31,000. Finally, Activest Wealth Management lifted its stake in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Down 1.5%

Shares of NYSE SCHW opened at $92.10 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $95.40 and a 200 day moving average price of $86.96. The company has a market cap of $167.18 billion, a P/E ratio of 24.76, a P/E/G ratio of 0.92 and a beta of 0.96. The Charles Schwab Corporation has a 12-month low of $62.37 and a 12-month high of $99.59.

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

Charles Schwab declared that its Board of Directors has approved a stock 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 reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold a total of 298,214 shares of company stock worth $29,022,580 over the last quarter. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. TD Securities increased their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Morgan Stanley increased their price target on Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Bank of America increased their price target on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, JMP Securities upped their price objective on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a report on Monday, July 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average price target of $99.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.