Hutchinson Financial Advisors INC Acquires Shares of 24,769 The Charles Schwab Corporation $SCHW

Hutchinson Financial Advisors INC acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, Holdings Channel.com reports. The firm acquired 24,769 shares of the financial services provider’s stock, valued at approximately $2,260,000. Charles Schwab comprises about 0.9% of Hutchinson Financial Advisors INC’s portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after purchasing an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at $79,605,000. Independent Advisor Alliance boosted its stake in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after purchasing an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares during the period. Finally, PFG Investments LLC boosted its stake in shares of Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares during the period. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Bank of America boosted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. BMO Capital Markets began coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. Finally, Morgan Stanley lowered their price objective on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Stock Up 0.2%

NYSE:SCHW opened at $94.62 on Friday. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The company has a 50-day moving average of $94.29 and a 200 day moving average of $91.14. The firm has a market cap of $171.75 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

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

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is owned by corporate insiders.

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.