The Charles Schwab Corporation $SCHW Stock Sold by Vima LLC

Key Points

• Vima LLC cut its Charles Schwab holdings by 81.6% in the third quarter, selling 45,883 shares and retaining 10,352 shares valued at approximately $1.01 million. Institutional investors collectively own 84.38% of SCHW.
• Analyst sentiment remains broadly positive, with 18 Buy ratings, five Holds and one Sell; the consensus rating is Moderate Buy with a $120.18 price target.
• Charles Schwab reported quarterly EPS of $1.69, beating estimates by $0.03, while revenue rose 16.9% year over year to $7.17 billion. The company also declared a quarterly dividend of $0.32 per share, representing a 1.4% yield.

Vima LLC cut its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 81.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,352 shares of the financial services provider's stock after selling 45,883 shares during the period. Vima LLC's holdings in Charles Schwab were worth $1,012,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. USS Investment Management Ltd grew its holdings in shares of Charles Schwab by 4.6% in the 1st quarter. USS Investment Management Ltd now owns 288,035 shares of the financial services provider's stock valued at $27,068,000 after acquiring an additional 12,789 shares in the last quarter. Whittier Trust Co. raised its holdings in Charles Schwab by 3.9% during the first quarter. Whittier Trust Co. now owns 384,881 shares of the financial services provider's stock worth $35,790,000 after acquiring an additional 14,538 shares in the last quarter. Financial Advisory Partners LLC bought a new stake in Charles Schwab during the first quarter worth about $3,199,000. First Citizens Bank & Trust Co. boosted its position in Charles Schwab by 102.3% during the third quarter. First Citizens Bank & Trust Co. now owns 33,750 shares of the financial services provider's stock valued at $3,299,000 after purchasing an additional 17,068 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Charles Schwab by 112.0% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 89,498 shares of the financial services provider's stock valued at $8,411,000 after purchasing an additional 47,281 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SCHW shares. Compass Point raised their price target on Charles Schwab from $135.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. Citigroup reiterated a "market outperform" rating on shares of Charles Schwab in a research note on Friday, October 16th. Truist Financial set a $115.00 price objective on Charles Schwab in a report on Friday, October 16th. BMO Capital Markets decreased their target price on shares of Charles Schwab from $105.00 to $97.00 and set a "market perform" rating for the company in a research note on Monday, October 19th. Finally, Piper Sandler lowered their target price on shares of Charles Schwab from $118.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, October 2nd. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus target price of $120.18.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $90.56 on Friday. The business's 50 day moving average price is $102.66 and its two-hundred day moving average price is $98.06. The company has a market cap of $156.61 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.81 and a beta of 0.79. 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 Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. The business's revenue for the quarter was up 16.9% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 annualized dividend and a yield of 1.4%. Charles Schwab's dividend payout ratio (DPR) is currently 21.84%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel Murtagh sold 24,778 shares of Charles Schwab stock in a transaction on Monday, August 10th. The shares were sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the completion of the transaction, the insider directly owned 57,972 shares of the company's stock, valued at $6,319,527.72. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula Sneed sold 5,263 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $107.15, for a total transaction of $563,930.45. Following the completion of the transaction, the director owned 91,711 shares in the company, valued at approximately $9,826,833.65. This represents a 5.43% 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 have sold 632,577 shares of company stock worth $68,214,123. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab News Roundup

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

• Positive Sentiment: Schwab may benefit if short-term interest rates remain elevated. Higher yields can increase the income the cash-rich brokerage earns on client balances, potentially supporting net interest revenue and profitability. Why Charles Schwab Stock Could Benefit If Short Term Rates Stay Higher
• Positive Sentiment: The board declared a regular quarterly common-stock dividend of $0.32 per share, equivalent to $1.28 annually and a stated yield of approximately 1.4%. The dividend is payable November 27 to shareholders of record November 13. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Opening two Portland branches could expand Schwab’s local presence and support client acquisition, although the financial impact is likely modest initially. Schwab opens two new Portland branches to expand local access

Charles Schwab Profile

The Charles Schwab Corporation NYSE: SCHW is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.

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