First Financial Bank Trust Division increased its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 7.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 73,408 shares of the financial services provider’s stock after buying an additional 4,882 shares during the period. First Financial Bank Trust Division’s holdings in Charles Schwab were worth $2,950,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Northern Trust Corp raised its stake in Charles Schwab by 0.3% during the first quarter. Northern Trust Corp now owns 16,708,657 shares of the financial services provider’s stock worth $714,463,000 after acquiring an additional 52,865 shares during the period. Clearbridge Investments LLC increased its stake in shares of Charles Schwab by 24.0% in the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after purchasing an additional 2,880,846 shares during the period. Geode Capital Management LLC increased its stake in shares of Charles Schwab by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock valued at $564,801,000 after purchasing an additional 758,069 shares during the period. Norges Bank acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $443,292,000. Finally, Investec Asset Management LTD increased its stake in shares of Charles Schwab by 0.7% in the first quarter. Investec Asset Management LTD now owns 5,233,061 shares of the financial services provider’s stock valued at $223,766,000 after purchasing an additional 35,222 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.
In related news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $40.20, for a total transaction of $150,348.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen T. Mclin sold 4,356 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $43.85, for a total transaction of $191,010.60. Following the transaction, the director now owns 7,592 shares in the company, valued at approximately $332,909.20. The disclosure for this sale can be found here. Insiders have sold 564,376 shares of company stock worth $25,827,934 in the last quarter. Company insiders own 10.90% of the company’s stock.
Shares of NYSE SCHW traded up $0.37 during mid-day trading on Tuesday, reaching $43.53. 10,270,961 shares of the company traded hands, compared to its average volume of 7,369,669. Charles Schwab Co. has a fifty-two week low of $37.83 and a fifty-two week high of $53.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $58.14 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 4.55 and a beta of 1.24. The company has a fifty day moving average of $41.23.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 EPS for the quarter, beating 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 20.60%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Charles Schwab Co. will post 2.68 EPS for the current fiscal year.
SCHW has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Wells Fargo & Co lowered shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $62.00 to $50.00 in a research note on Monday. Argus dropped their price target on shares of Domino’s Pizza from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded shares of Focus Financial Partners from a “market perform” rating to an “outperform” rating and raised their price target for the company from $35.00 to $35.50 in a research note on Friday, July 12th. Finally, Citigroup lowered shares of Apergy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $34.00 in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $47.80.
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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