Short Interest in Charles Schwab Corp (SCHW) Drops By 18.7%

Charles Schwab Corp (NYSE:SCHW) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 20,372,625 shares, a decrease of 18.7% from the January 12th total of 25,070,835 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 7,663,001 shares, the days-to-cover ratio is presently 2.7 days.

In other Charles Schwab news, CFO Peter B. Crawford sold 12,459 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $51.58, for a total value of $642,635.22. Following the completion of the sale, the chief financial officer now directly owns 7,652 shares of the company’s stock, valued at approximately $394,690.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 350,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $44.65, for a total transaction of $15,627,500.00. The disclosure for this sale can be found here. Insiders sold 2,008,944 shares of company stock valued at $101,205,520 in the last ninety days. Corporate insiders own 12.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SCHW. WINTON GROUP Ltd purchased a new stake in Charles Schwab during the second quarter valued at about $368,000. Advisory Services Network LLC increased its holdings in shares of Charles Schwab by 36.0% in the 2nd quarter. Advisory Services Network LLC now owns 19,119 shares of the financial services provider’s stock valued at $821,000 after purchasing an additional 5,056 shares during the period. Cetera Investment Advisers increased its holdings in shares of Charles Schwab by 11.7% in the 2nd quarter. Cetera Investment Advisers now owns 13,048 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 1,366 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Charles Schwab by 30.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,727,982 shares of the financial services provider’s stock valued at $74,234,000 after purchasing an additional 404,275 shares during the period. Finally, Gs Investments Inc. acquired a new position in shares of Charles Schwab in the 2nd quarter valued at about $1,487,000. 79.47% of the stock is owned by institutional investors.

A number of brokerages have weighed in on SCHW. Citigroup downgraded shares of Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price target for the company. in a report on Wednesday, February 7th. Credit Suisse Group cut their price target on shares of Charles Schwab from $70.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Wells Fargo & Co reissued a “market perform” rating and issued a $55.00 price target (up from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. Morgan Stanley upped their price target on shares of Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Finally, BidaskClub downgraded shares of Charles Schwab from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $53.88.

Shares of Charles Schwab (NYSE:SCHW) opened at $51.15 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.30 and a current ratio of 0.31. Charles Schwab has a 52 week low of $37.16 and a 52 week high of $56.25. The company has a market cap of $68,570.00, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.24 and a beta of 1.63.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. equities research analysts predict that Charles Schwab will post 2.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.78%. Charles Schwab’s dividend payout ratio is currently 24.84%.

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About Charles Schwab

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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