First Dallas Securities Inc. Lowers Stake in The Charles Schwab Corporation $SCHW

First Dallas Securities Inc. lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 18.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,109 shares of the financial services provider’s stock after selling 3,308 shares during the quarter. First Dallas Securities Inc.’s holdings in Charles Schwab were worth $1,379,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter valued at about $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the second quarter valued at $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Charles Schwab during the second quarter worth about $32,000. 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. Finally, CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial raised their price target on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Raymond James Financial reissued an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Finally, TD Cowen raised their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Performance

SCHW opened at $95.33 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $173.05 billion, a PE ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02. The business has a fifty day simple moving average of $94.03 and a 200-day simple moving average of $91.96. 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 announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab announced that its board has initiated a share buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,866 shares of company stock worth $6,370,897 over the last ninety days. 6.30% of the stock is currently owned by company 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.