First National Advisers LLC Sells 4,700 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• First National Advisers LLC reduced its stake in The Charles Schwab Corporation by 31.1%, now holding 10,400 shares worth approximately $814,000.
• Charles Schwab reported a quarterly earnings per share (EPS) of $1.14, beating estimates and marking a year-over-year revenue increase of 24.8%.
• The company's Board of Directors has announced a $20 billion share buyback program, indicating confidence in the firm's stock valuation.

First National Advisers LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,400 shares of the financial services provider's stock after selling 4,700 shares during the period. First National Advisers LLC's holdings in Charles Schwab were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. HM Payson & Co. grew its stake in Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock valued at $513,000 after purchasing an additional 132 shares in the last quarter. Journey Strategic Wealth LLC grew its stake in Charles Schwab by 3.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 135 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in Charles Schwab by 1.8% in the first quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 140 shares in the last quarter. Finally, Sutton Place Investors LLC grew its stake in Charles Schwab by 1.6% in the first quarter. Sutton Place Investors LLC now owns 8,677 shares of the financial services provider's stock valued at $679,000 after purchasing an additional 140 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SCHW. Raymond James Financial reiterated an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. JMP Securities upped their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research note on Monday, July 21st. TD Securities upped 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. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Finally, Truist Financial upped their price target on Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.35.

Charles Schwab Price Performance

NYSE:SCHW traded down $0.34 during trading hours on Thursday, reaching $98.23. The company had a trading volume of 2,785,473 shares, compared to its average volume of 10,167,158. The stock has a 50-day moving average of $90.91 and a two-hundred day moving average of $83.33. The Charles Schwab Corporation has a one year low of $61.15 and a one year high of $99.59. The firm has a market capitalization of $178.49 billion, a PE ratio of 26.41, a PEG ratio of 0.94 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. Charles Schwab'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 earned $0.73 EPS. 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 declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.10%. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab declared that its Board of Directors has approved a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the transaction, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total value of $299,225.50. Following the completion of the transaction, the insider owned 35,864 shares in the company, valued at $3,261,830.80. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,754 shares of company stock worth $9,480,253 over the last 90 days. Company insiders own 6.30% of the company's stock.

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.