Hanson & Doremus Investment Management Sells 10,725 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Hanson & Doremus Investment Management sold 10,725 shares of The Charles Schwab Corporation, reducing its stake by 7.9%, now holding 125,238 shares valued at approximately $11.4 million.
• Charles Schwab's stock has received a majority of positive ratings from analysts, with an average rating of "Moderate Buy" and a consensus price target of $100.00.
• The company recently announced a $20 billion share buyback program, indicating that the board believes its stock is undervalued.

Hanson & Doremus Investment Management decreased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,238 shares of the financial services provider's stock after selling 10,725 shares during the period. Charles Schwab makes up 1.5% of Hanson & Doremus Investment Management's investment portfolio, making the stock its 11th largest holding. Hanson & Doremus Investment Management's holdings in Charles Schwab were worth $11,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Bain Capital Public Equity Management II LLC purchased a new position in Charles Schwab during the 1st quarter valued at about $79,605,000. Independent Advisor Alliance lifted its position in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock valued at $3,061,000 after acquiring an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock valued at $92,493,000 after acquiring an additional 68,858 shares during the period. United Services Automobile Association lifted its position in Charles Schwab by 14.1% during the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider's stock valued at $3,074,000 after acquiring an additional 4,869 shares during the period. Finally, World Investment Advisors lifted its position in Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after acquiring an additional 11,505 shares during the period. Institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SCHW shares. Morgan Stanley lifted their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Piper Sandler lifted their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. JMP Securities lifted their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a report on Monday, July 21st. Truist Financial lifted their target price on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Finally, Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Sixteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.00.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider owned 58,999 shares of the company's stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,213 shares of company stock valued at $26,232,180 in the last three months. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 0.8%

SCHW opened at $95.52 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $95.55 and a 200-day moving average price of $88.14. The Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59. The stock has a market capitalization of $173.39 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 0.94 and a beta of 0.96.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's payout ratio is 29.03%.

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

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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