The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by TIAA Trust National Association

TIAA Trust National Association trimmed its position in The Charles Schwab Corporation (NYSE:SCHW) by 4.4% in the first quarter, HoldingsChannel.com reports. The firm owned 21,821 shares of the financial services provider’s stock after selling 995 shares during the quarter. TIAA Trust National Association’s holdings in Charles Schwab were worth $1,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the 1st quarter valued at $25,000. Westside Investment Management Inc. lifted its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. WFA Asset Management Corp acquired a new stake in shares of Charles Schwab during the 1st quarter valued at $33,000. Cornerstone Planning Group LLC lifted its position in shares of Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 220 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its position in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 169 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Trading Down 2.2%

NYSE SCHW opened at $95.57 on Monday. The Charles Schwab Corporation has a 1-year low of $61.15 and a 1-year high of $99.59. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $173.65 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The firm’s fifty day simple moving average is $91.28 and its 200-day simple moving average is $83.79.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the business posted $0.73 earnings per share. Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is 29.03%.

Charles Schwab declared that its board has approved a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. TD Securities increased their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Bank of America increased their target price on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a report on Monday, July 21st. Barclays increased their target price on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and increased their target price for the company from $65.00 to $82.00 in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.35.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the transaction, the insider directly owned 39,154 shares of the company’s stock, valued at $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,726 shares of company stock valued at $29,025,396 in the last three months. Company insiders own 6.30% of the company’s stock.

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.