Cary Street Partners Financial LLC Buys 6,398 Shares of The Charles Schwab Corporation $SCHW

Cary Street Partners Financial LLC lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 24.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,700 shares of the financial services provider’s stock after purchasing an additional 6,398 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Charles Schwab were worth $2,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 19,195 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Charles Schwab in the first quarter valued at approximately $84,000. AlphaCore Capital LLC bought a new position in Charles Schwab in the first quarter valued at approximately $250,000. Zions Bancorporation National Association UT bought a new position in Charles Schwab in the first quarter valued at approximately $189,000. Finally, Benjamin Edwards Inc. lifted its stake in Charles Schwab by 9.5% during the first quarter. Benjamin Edwards Inc. now owns 6,427 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 557 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America raised their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Finally, TD Cowen lifted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $107.11.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.24 on Tuesday. The firm has a market capitalization of $167.46 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.83 and a beta of 0.96. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $93.68 and its 200-day moving average price is $93.25. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter last year, the business earned $0.71 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.30% of the company’s stock.

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.