Charles Schwab Co. (NYSE:SCHW) Short Interest Down 28.2% in October

Charles Schwab Co. (NYSE:SCHW) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 15,450,000 shares, a drop of 28.2% from the September 30th total of 21,510,000 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 8,760,000 shares, the short-interest ratio is presently 1.8 days.

In other news, Chairman Charles R. Schwab sold 105,422 shares of Charles Schwab stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.08, for a total value of $4,225,313.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen T. Mclin sold 5,093 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the sale, the director now owns 7,297 shares in the company, valued at $274,075.32. The disclosure for this sale can be found here. Insiders sold 219,677 shares of company stock worth $8,993,241 over the last quarter. 10.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. MUFG Americas Holdings Corp boosted its position in shares of Charles Schwab by 3.5% in the third quarter. MUFG Americas Holdings Corp now owns 254,022 shares of the financial services provider’s stock valued at $10,626,000 after acquiring an additional 8,591 shares during the period. Cetera Investment Advisers boosted its position in shares of Charles Schwab by 33.6% in the third quarter. Cetera Investment Advisers now owns 25,152 shares of the financial services provider’s stock valued at $1,052,000 after acquiring an additional 6,322 shares during the period. First Allied Advisory Services Inc. boosted its position in shares of Charles Schwab by 39.8% in the third quarter. First Allied Advisory Services Inc. now owns 24,278 shares of the financial services provider’s stock valued at $1,019,000 after acquiring an additional 6,917 shares during the period. Cetera Advisors LLC boosted its position in shares of Charles Schwab by 22.0% in the third quarter. Cetera Advisors LLC now owns 6,882 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 1,240 shares during the period. Finally, Condor Capital Management boosted its position in shares of Charles Schwab by 2.7% in the third quarter. Condor Capital Management now owns 45,055 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 1,188 shares during the period. 79.64% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on SCHW shares. Credit Suisse Group lowered their target price on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Deutsche Bank boosted their target price on shares of Charles Schwab from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Co restated a “hold” rating on shares of Charles Schwab in a report on Tuesday, October 15th. Raymond James downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. They noted that the move was a valuation call. Finally, UBS Group boosted their target price on shares of Charles Schwab from $33.00 to $35.00 and gave the stock a “sell” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $44.38.

SCHW stock traded up $0.97 during midday trading on Friday, reaching $44.35. 6,025,108 shares of the company were exchanged, compared to its average volume of 8,021,634. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50-day moving average price of $40.15 and a two-hundred day moving average price of $41.10. Charles Schwab has a one year low of $34.58 and a one year high of $48.23. The firm has a market capitalization of $55.75 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 2.73 and a beta of 1.32.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Charles Schwab had a net margin of 35.12% and a return on equity of 20.81%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that Charles Schwab will post 2.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.53%. Charles Schwab’s dividend payout ratio (DPR) is 27.76%.

Charles Schwab Company 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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