NBC Securities Inc. Buys 726 Shares of The Charles Schwab Co. (NYSE:SCHW)

NBC Securities Inc. increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,350 shares of the financial services provider’s stock after buying an additional 726 shares during the period. NBC Securities Inc.’s holdings in Charles Schwab were worth $1,057,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Vanguard Group Inc. boosted its holdings in Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares during the period. Fisher Asset Management LLC boosted its holdings in Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after purchasing an additional 296,317 shares during the period. Finally, Norges Bank bought a new stake in Charles Schwab in the 4th quarter valued at about $950,192,000. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SCHW. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $76.00 to $84.00 in a research report on Monday, July 8th. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Morgan Stanley dropped their target price on shares of Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Bank of America dropped their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Finally, UBS Group lowered their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.27.

Insider Activity

In other news, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 247,271 shares of company stock valued at $17,567,508. 6.60% of the stock is currently owned by insiders.

Charles Schwab Trading Up 0.9 %

SCHW traded up $0.54 during trading on Thursday, reaching $62.76. 4,523,813 shares of the company’s stock were exchanged, compared to its average volume of 8,007,371. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $111.54 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. The firm has a fifty day moving average price of $70.47 and a two-hundred day moving average price of $69.98.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.09 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

About Charles Schwab

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.