The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Country Club Bank

Country Club Bank trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,462 shares of the financial services provider's stock after selling 20,394 shares during the quarter. Country Club Bank's holdings in Charles Schwab were worth $8,284,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Atwood & Palmer Inc. bought a new position in Charles Schwab during the 1st quarter valued at about $25,000. Westside Investment Management Inc. grew its holdings in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. WFA Asset Management Corp bought a new position in Charles Schwab during the 1st quarter valued at about $33,000. Cornerstone Planning Group LLC grew its holdings in Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab during the 4th quarter valued at about $38,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the topic of several analyst reports. Truist Financial upped their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 16th. Citigroup raised their target price on shares of Charles Schwab from $102.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Barclays raised their target price on shares of Charles Schwab from $89.00 to $106.00 and gave the stock an "overweight" rating in a research report on Thursday. TD Securities increased their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.70.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded down $1.08 during trading on Friday, hitting $91.96. 6,814,781 shares of the company's stock were exchanged, compared to its average volume of 9,587,589. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The business has a 50-day simple moving average of $88.53 and a 200-day simple moving average of $81.40. The Charles Schwab Corporation has a 52-week low of $61.01 and a 52-week high of $93.35. The stock has a market capitalization of $167.09 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 0.98 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same quarter last year, the company posted $0.74 earnings per share. On average, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.17%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 10,176 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 20,872 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the sale, the insider owned 58,999 shares in the company, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,905 shares of company stock valued at $10,530,833 in the last quarter. 6.30% of the stock is currently owned by insiders.

Charles Schwab 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.