The Charles Schwab Corporation $SCHW Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia cut its Charles Schwab stake by 64.1% in the first quarter, selling 839,501 shares and leaving it with 470,918 shares worth about $44.3 million.
• Charles Schwab recently reported strong quarterly results, with EPS of $1.62 and revenue of $7.07 billion, both beating analyst estimates and marking year-over-year revenue growth of 20.9%.
• The company also announced a quarterly dividend of $0.32 per share, while Wall Street sentiment remains broadly positive with an average Moderate Buy rating and a consensus price target of $119.76.

Bank of Nova Scotia cut its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 64.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,918 shares of the financial services provider's stock after selling 839,501 shares during the quarter. Bank of Nova Scotia's holdings in Charles Schwab were worth $44,257,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dogwood Wealth Management LLC grew its stake in shares of Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock valued at $25,000 after buying an additional 123 shares in the last quarter. Piscataqua Savings Bank acquired a new position in Charles Schwab during the 4th quarter worth $26,000. Optima Capital LLC acquired a new stake in Charles Schwab in the fourth quarter valued at approximately $30,000. Scarborough Advisors LLC purchased a new position in Charles Schwab in the first quarter worth approximately $29,000. Finally, McIlrath & Eck LLC raised its stake in Charles Schwab by 143.2% in the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock valued at $32,000 after buying an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SCHW. TD Cowen lifted their target price on Charles Schwab from $108.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Truist Financial decreased their price target on shares of Charles Schwab from $122.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Zacks Research upgraded Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. BMO Capital Markets lowered Charles Schwab from an "outperform" rating to a "market perform" rating and set a $105.00 target price on the stock. in a report on Monday, July 20th. Finally, Argus increased their price target on Charles Schwab from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $119.76.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider directly owned 13,738 shares of the company's stock, valued at $1,373,937.38. This trade represents a 12.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the sale, the director owned 177,508 shares in the company, valued at approximately $16,082,224.80. The trade was a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab News Summary

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

Charles Schwab Stock Up 0.3%

Charles Schwab stock opened at $101.92 on Friday. The stock's 50 day moving average price is $93.93 and its 200 day moving average price is $95.39. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50. The company has a market cap of $177.25 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.82 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.Charles Schwab's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. On average, sell-side analysts predict that The Charles Schwab Corporation will post 6.43 EPS 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. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. Charles Schwab's dividend payout ratio (DPR) is 23.27%.

Charles Schwab Profile

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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