Park National Corp OH Has $26.65 Million Stake in The Charles Schwab Corporation $SCHW

Park National Corp OH trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,045 shares of the financial services provider’s stock after selling 26,355 shares during the period. Park National Corp OH’s holdings in Charles Schwab were worth $26,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kera Capital Partners Inc. acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $217,000. Cullen Investment Group LTD. raised its position in shares of Charles Schwab by 4.1% in the second quarter. Cullen Investment Group LTD. now owns 24,622 shares of the financial services provider’s stock valued at $2,247,000 after buying an additional 979 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $4,992,000. Swedbank AB increased its stake in Charles Schwab by 4.2% in the first quarter. Swedbank AB now owns 650,882 shares of the financial services provider’s stock valued at $50,951,000 after acquiring an additional 26,461 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Charles Schwab by 7.3% in the first quarter. Voya Investment Management LLC now owns 485,838 shares of the financial services provider’s stock valued at $38,031,000 after acquiring an additional 33,087 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

NYSE SCHW opened at $93.50 on Friday. The firm’s fifty day moving average price is $95.41 and its two-hundred day moving average price is $86.76. The stock has a market cap of $169.72 billion, a PE ratio of 25.13, a PEG ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a fifty-two week low of $61.81 and a fifty-two week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last posted its 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. The firm had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman owned 590,734 shares of the company’s stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 298,214 shares of company stock valued at $29,022,580 over the last quarter. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent analyst reports. JMP Securities lifted their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Bank of America lifted their price objective on shares of Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research note on Monday, July 21st. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Finally, TD Securities lifted their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.60.

Charles Schwab Profile

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.