Glenview Trust co Acquires 4,028 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Glenview Trust Co has increased its holdings in The Charles Schwab Corporation by 3.9% this quarter, now owning 107,062 shares valued at approximately $8.38 million.
• Several large investors have significantly adjusted their positions in Schwab, with Brighton Jones LLC raising its stake by 380.5% and other firms increasing their investments, demonstrating strong institutional interest.
• Charles Schwab has recently authorized a $20 billion share buyback plan, signaling management's confidence in the company's valuation, alongside a quarterly dividend announced at $0.27 per share.

Glenview Trust co increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,062 shares of the financial services provider's stock after buying an additional 4,028 shares during the quarter. Glenview Trust co's holdings in Charles Schwab were worth $8,381,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SCHW. Brighton Jones LLC raised its position 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 valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Gotham Asset Management LLC raised its position in Charles Schwab by 2.4% in the fourth quarter. Gotham Asset Management LLC now owns 30,613 shares of the financial services provider's stock valued at $2,266,000 after purchasing an additional 718 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Charles Schwab in the fourth quarter valued at about $2,100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Charles Schwab by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,135 shares of the financial services provider's stock valued at $15,256,000 after purchasing an additional 580 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in Charles Schwab by 20.5% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 62,943 shares of the financial services provider's stock valued at $4,658,000 after purchasing an additional 10,690 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the completion of the sale, the insider directly owned 37,983 shares of the company's stock, valued at $3,615,981.60. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 298,214 shares of company stock valued at $29,022,580. Company insiders own 6.30% of the company's stock.

Charles Schwab Trading Up 0.2%

NYSE SCHW opened at $93.66 on Wednesday. The business has a 50 day simple moving average of $95.29 and a 200 day simple moving average of $86.52. The Charles Schwab Corporation has a one year low of $61.16 and a one year high of $99.59. The stock has a market capitalization of $170.01 billion, a P/E ratio of 25.18, a P/E/G ratio of 0.92 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.

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

Charles Schwab declared that its board has authorized a share buyback plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are 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 paid 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 (DPR) is 29.03%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SCHW shares. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an "overweight" rating in a research report on Friday, July 18th. TD Securities increased their price target on Charles Schwab from $95.00 to $113.00 and gave the company 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 company an "overweight" rating in a research note on Tuesday, July 29th. JMP Securities increased their price target on Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research note on Monday, July 21st. Finally, Raymond James Financial reissued an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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