Wunderlich Capital Managemnt grew its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,804 shares of the financial services provider’s stock after buying an additional 1,224 shares during the quarter. Wunderlich Capital Managemnt’s holdings in Charles Schwab were worth $1,158,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SCHW. FNY Investment Advisers LLC increased its stake in shares of Charles Schwab by 133.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. Berman Capital Advisors LLC increased its stake in shares of Charles Schwab by 260.7% during the 1st quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 756 shares during the last quarter. Glassman Wealth Services increased its stake in shares of Charles Schwab by 51.0% during the 2nd quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 371 shares during the last quarter. First PREMIER Bank acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $49,000. Finally, Mosaic Family Wealth LLC increased its stake in shares of Charles Schwab by 44.4% during the 1st quarter. Mosaic Family Wealth LLC now owns 1,300 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 400 shares during the last quarter. 79.03% of the stock is currently owned by hedge funds and other institutional investors.
In other Charles Schwab news, Director Mark A. Goldfarb bought 2,595 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $38.68 per share, for a total transaction of $100,374.60. Following the transaction, the director now directly owns 3,771 shares in the company, valued at approximately $145,862.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen T. Mclin sold 5,093 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total transaction of $191,293.08. Following the sale, the director now directly owns 7,297 shares of the company’s stock, valued at approximately $274,075.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,677 shares of company stock worth $8,997,842. Company insiders own 10.90% of the company’s stock.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Charles Schwab Co. will post 2.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.58%. Charles Schwab’s payout ratio is presently 27.76%.
SCHW has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Charles Schwab from a “peer perform” rating to an “outperform” rating and boosted their price objective for the stock from $42.00 to $46.00 in a research note on Tuesday, September 3rd. Compass Point set a $45.00 price target on shares of Charles Schwab and gave the company a “hold” rating in a research note on Tuesday, July 2nd. Deutsche Bank decreased their price target on shares of Charles Schwab from $37.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Wells Fargo & Co upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Monday, July 22nd. Finally, Bank of America lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating and decreased their price target for the company from $49.00 to $43.00 in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Charles Schwab has an average rating of “Buy” and a consensus price target of $47.53.
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.
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