King Luther Capital Management Corp Increases Position in The Charles Schwab Corporation (NYSE:SCHW)

King Luther Capital Management Corp increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 60.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,945 shares of the financial services provider’s stock after buying an additional 4,897 shares during the period. King Luther Capital Management Corp’s holdings in The Charles Schwab Corporation were worth $528,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SCHW. Pinnacle Bank bought a new stake in The Charles Schwab Corporation during the first quarter worth about $119,000. First Bank & Trust increased its stake in The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after buying an additional 287 shares during the last quarter. Quadrant Capital Group LLC increased its stake in The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock worth $133,000 after buying an additional 207 shares during the last quarter. Finally, FTB Advisors Inc. increased its stake in The Charles Schwab Corporation by 365.8% in the first quarter. FTB Advisors Inc. now owns 3,852 shares of the financial services provider’s stock worth $151,000 after buying an additional 3,025 shares during the last quarter. Hedge funds and other institutional investors own 79.41% of the company’s stock.

The Charles Schwab Corporation (NYSE SCHW) traded down 0.37% during mid-day trading on Tuesday, reaching $42.72. 5,346,705 shares of the company traded hands. The company has a market capitalization of $57.16 billion, a P/E ratio of 28.67 and a beta of 1.63. The Charles Schwab Corporation has a 52-week low of $29.23 and a 52-week high of $44.10. The stock has a 50 day moving average price of $42.71 and a 200-day moving average price of $41.02.

The Charles Schwab Corporation (NYSE:SCHW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The Charles Schwab Corporation’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share. Analysts expect that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.75%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is currently 21.48%.

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SCHW has been the topic of a number of recent research reports. Instinet reaffirmed a “conviction-buy” rating and set a $46.00 price target (up from $44.00) on shares of The Charles Schwab Corporation in a research report on Friday, April 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of The Charles Schwab Corporation in a research report on Wednesday, May 31st. BidaskClub raised shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $48.00 price target (up from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $44.00 target price (up from $42.00) on shares of The Charles Schwab Corporation in a research report on Monday, June 12th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $44.00.

In related news, EVP Joseph R. Martinetto sold 89,330 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total value of $3,797,418.30. Following the completion of the transaction, the executive vice president now directly owns 207,961 shares of the company’s stock, valued at $8,840,422.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph R. Martinetto sold 115,642 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $42.10, for a total value of $4,868,528.20. Following the completion of the transaction, the executive vice president now directly owns 210,868 shares of the company’s stock, valued at $8,877,542.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 917,120 shares of company stock valued at $39,401,183. 12.00% of the stock is owned by company insiders.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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