Tower Bridge Advisors Trims Stake in Charles Schwab Co. Common Stock (SCHW)

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Tower Bridge Advisors decreased its holdings in shares of Charles Schwab Co. Common Stock (NYSE:SCHW) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,414 shares of the financial services provider’s stock after selling 15,048 shares during the period. Charles Schwab Co. Common Stock makes up 1.4% of Tower Bridge Advisors’ portfolio, making the stock its 23rd biggest holding. Tower Bridge Advisors’ holdings in Charles Schwab Co. Common Stock were worth $12,438,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SCHW. Massey Quick Simon & CO. LLC lifted its holdings in shares of Charles Schwab Co. Common Stock by 118.6% during the first quarter. Massey Quick Simon & CO. LLC now owns 2,088 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,133 shares during the period. Acropolis Investment Management LLC acquired a new stake in Charles Schwab Co. Common Stock in the second quarter valued at approximately $115,000. Well Done LLC acquired a new stake in Charles Schwab Co. Common Stock in the first quarter valued at approximately $118,000. Kaizen Advisory LLC grew its stake in Charles Schwab Co. Common Stock by 157.6% in the second quarter. Kaizen Advisory LLC now owns 2,980 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 1,823 shares during the period. Finally, Compagnie Lombard Odier SCmA grew its stake in Charles Schwab Co. Common Stock by 6,692.5% in the first quarter. Compagnie Lombard Odier SCmA now owns 3,600 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 3,547 shares during the period. Institutional investors own 80.30% of the company’s stock.

SCHW has been the topic of a number of recent research reports. Credit Suisse Group dropped their target price on Charles Schwab Co. Common Stock from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Monday, April 23rd. Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of Charles Schwab Co. Common Stock in a report on Monday, July 16th. ValuEngine lowered Charles Schwab Co. Common Stock from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. JPMorgan Chase & Co. set a $59.00 target price on Charles Schwab Co. Common Stock and gave the company a “buy” rating in a report on Monday, July 16th. Finally, Zacks Investment Research lowered Charles Schwab Co. Common Stock from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $57.80.

Charles Schwab Co. Common Stock stock traded down $1.58 during mid-day trading on Tuesday, reaching $49.84. 365,974 shares of the company’s stock were exchanged, compared to its average volume of 5,120,832. The firm has a market capitalization of $68.77 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.28 and a beta of 1.56. Charles Schwab Co. Common Stock has a one year low of $38.06 and a one year high of $60.22. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.

Charles Schwab Co. Common Stock (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. Charles Schwab Co. Common Stock had a return on equity of 17.96% and a net margin of 30.83%. Charles Schwab Co. Common Stock’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. analysts predict that Charles Schwab Co. Common Stock will post 2.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be issued a dividend of $0.13 per share. This is a positive change from Charles Schwab Co. Common Stock’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, August 9th. Charles Schwab Co. Common Stock’s dividend payout ratio (DPR) is 31.71%.

In related news, Chairman Charles R. Schwab sold 190,500 shares of Charles Schwab Co. Common Stock stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total transaction of $10,048,875.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Goldfarb sold 2,174 shares of Charles Schwab Co. Common Stock stock in a transaction on Friday, June 1st. The stock was sold at an average price of $56.67, for a total value of $123,200.58. Following the sale, the director now owns 5,045 shares in the company, valued at $285,900.15. The disclosure for this sale can be found here. Insiders have sold 221,021 shares of company stock worth $11,683,197 over the last quarter. 11.50% of the stock is currently owned by corporate insiders.

Charles Schwab Co. Common Stock 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.

Further Reading: Earnings Per Share

Institutional Ownership by Quarter for Charles Schwab Co. Common Stock (NYSE:SCHW)

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