The Charles Schwab Corporation $SCHW Shares Purchased by Ledyard National Bank

Ledyard National Bank increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,416 shares of the financial services provider’s stock after purchasing an additional 1,038 shares during the quarter. Ledyard National Bank’s holdings in Charles Schwab were worth $494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Charles Schwab by 26.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after acquiring an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth about $79,605,000. Independent Advisor Alliance boosted its position in shares of Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after acquiring an additional 68,858 shares in the last quarter. Finally, PFG Investments LLC boosted its position in shares of Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 550 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Truist Financial boosted their target price on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. TD Cowen boosted their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The SEC filing for this sale provides additional information. Insiders sold a total of 65,866 shares of company stock valued at $6,370,897 in the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 0.3%

Charles Schwab stock opened at $94.34 on Friday. The stock has a 50-day simple moving average of $94.31 and a 200-day simple moving average of $91.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $171.26 billion, a P/E ratio of 22.09, a PEG ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate 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 was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Charles Schwab declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in 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 often an indication that the company’s management believes its stock is undervalued.

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.