Kirtland Hills Capital Management LLC Makes New Investment in The Charles Schwab Corporation $SCHW

Key Points

• Kirtland Hills Capital Management initiated a Charles Schwab position of 9,923 shares valued at approximately $916,000 in the second quarter. Institutional investors collectively own 84.38% of SCHW.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $121.17; individual targets range up to $135.
• Charles Schwab exceeded quarterly expectations, reporting $1.62 in EPS and $7.07 billion in revenue, while revenue rose 20.9% year over year. The company also declared a quarterly dividend of $0.32 per share.

Kirtland Hills Capital Management LLC bought a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,923 shares of the financial services provider's stock, valued at approximately $916,000.

Several other large investors have also modified their holdings of SCHW. Compass Financial Management LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. Commerce Bank purchased a new stake in Charles Schwab in the 2nd quarter valued at about $1,030,000. Pinnbrook Capital Management LP purchased a new stake in Charles Schwab in the 2nd quarter valued at about $4,831,000. Northwestern Mutual Wealth Management Co. acquired a new position in Charles Schwab in the second quarter valued at about $243,000. Finally, Evolve Private Wealth LLC acquired a new position in Charles Schwab in the second quarter valued at about $246,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wolfe Research reiterated an "outperform" rating and set a $127.00 price target on shares of Charles Schwab in a research report on Tuesday, July 21st. Piper Sandler set a $118.00 price objective on shares of Charles Schwab in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Charles Schwab in a research report on Thursday, June 18th. Compass Point started coverage on shares of Charles Schwab in a report on Monday, August 3rd. They issued a "buy" rating and a $135.00 target price for the company. Finally, Citigroup reissued a "market outperform" rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 5,263 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $107.15, for a total value of $563,930.45. Following the sale, the director owned 91,711 shares of the company's stock, valued at $9,826,833.65. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 6,952 shares of Charles Schwab stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total value of $709,312.56. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 398,984 shares of company stock valued at $41,699,569 in the last 90 days. Insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

Shares of SCHW opened at $112.36 on Friday. The company has a market cap of $194.31 billion, a P/E ratio of 20.43, a PEG ratio of 0.86 and a beta of 0.76. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $112.40. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average price is $101.59 and its 200 day moving average price is $96.15.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The firm's revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. On average, research analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is 23.27%.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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