Round Table Services LLC acquired a new position in shares of Charles Schwab Co. (NYSE:SCHW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,259 shares of the financial services provider’s stock, valued at approximately $406,000.
Several other hedge funds have also recently bought and sold shares of SCHW. LFA Lugano Financial Advisors SA bought a new stake in Charles Schwab during the third quarter worth about $111,000. Acropolis Investment Management LLC bought a new stake in Charles Schwab during the second quarter worth about $115,000. Point72 Hong Kong Ltd bought a new stake in Charles Schwab during the second quarter worth about $134,000. Kaizen Advisory LLC raised its holdings in Charles Schwab by 157.6% during the second quarter. Kaizen Advisory LLC now owns 2,980 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 1,823 shares in the last quarter. Finally, Sun Life Financial INC raised its holdings in Charles Schwab by 1,041.8% during the second quarter. Sun Life Financial INC now owns 3,254 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 2,969 shares in the last quarter. 80.46% of the stock is owned by institutional investors.
SCHW has been the topic of several research analyst reports. Wells Fargo & Co upped their price objective on Charles Schwab from $54.00 to $56.00 and gave the company a “$54.22” rating in a research note on Wednesday, July 18th. Deutsche Bank upgraded Charles Schwab from a “hold” rating to a “buy” rating and upped their price objective for the company from $52.00 to $54.00 in a research note on Tuesday. Morgan Stanley upped their price objective on Charles Schwab from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, October 3rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of Charles Schwab in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.73.
Shares of NYSE SCHW opened at $43.70 on Tuesday. The company has a market cap of $58.35 billion, a PE ratio of 26.65, a PEG ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. Charles Schwab Co. has a 1-year low of $42.01 and a 1-year high of $60.22.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. Charles Schwab had a return on equity of 19.46% and a net margin of 32.65%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Equities research analysts predict that Charles Schwab Co. will post 2.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.19%. Charles Schwab’s dividend payout ratio (DPR) is currently 31.71%.
Charles Schwab announced that its Board of Directors has initiated a share buyback program on Thursday, October 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 1.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Charles Schwab Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
Read More: Understanding Average Daily Trade Volume
Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.