The Charles Schwab Corporation $SCHW Shares Purchased by First National Trust Co

First National Trust Co increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,967 shares of the financial services provider’s stock after purchasing an additional 3,496 shares during the quarter. First National Trust Co’s holdings in Charles Schwab were worth $4,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Princeton Global Asset Management LLC purchased a new stake in Charles Schwab during the 2nd quarter worth about $25,000. RMG Wealth Management LLC purchased a new stake in Charles Schwab during the 2nd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Charles Schwab during the 2nd quarter worth about $32,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Finally, Hoese & Co LLP lifted its holdings in Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after buying an additional 200 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.76 on Tuesday. The stock has a market capitalization of $172.01 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The stock’s 50-day moving average price is $94.40 and its 200 day moving average price is $90.73. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its board has initiated 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 reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders have sold 69,156 shares of company stock worth $6,686,934 in the last quarter. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCHW. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. BMO Capital Markets began coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target for the company. Citigroup lifted their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Finally, Barclays boosted their target price on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Charles Schwab Company 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.