The Charles Schwab Corporation $SCHW Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 90.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,493 shares of the financial services provider’s stock after selling 153,183 shares during the quarter. Evercore Wealth Management LLC’s holdings in Charles Schwab were worth $1,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Norges Bank purchased a new stake in shares of Charles Schwab during the 4th quarter worth approximately $1,994,189,000. Bank of New York Mellon Corp grew its position in shares of Charles Schwab by 22.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after buying an additional 3,009,884 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Charles Schwab by 9.7% in the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after buying an additional 2,066,884 shares during the last quarter. Focus Partners Wealth raised its stake in Charles Schwab by 716.5% during the 4th quarter. Focus Partners Wealth now owns 2,101,463 shares of the financial services provider’s stock worth $209,948,000 after acquiring an additional 1,844,095 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Charles Schwab during the 1st quarter worth $129,140,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 1.9%

Shares of NYSE:SCHW opened at $106.17 on Wednesday. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $184.65 billion, a P/E ratio of 19.30, a P/E/G ratio of 0.84 and a beta of 0.77. The firm has a fifty day moving average price of $94.46 and a 200 day moving average price of $95.37.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the business posted $1.14 earnings per share. Charles Schwab’s quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts predict that The Charles Schwab Corporation will post 6.45 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is currently 23.27%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SCHW shares. Keefe, Bruyette & Woods initiated coverage on shares of Charles Schwab in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $110.00 price objective for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $145.00 target price on shares of Charles Schwab in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.94.

Charles Schwab News Roundup

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Planned $20 billion share repurchase: Charles Schwab reportedly plans to buy back $20 billion of its stock, a substantial capital-allocation commitment that could reduce shares outstanding, support earnings per share and signal management’s confidence in the company’s valuation and cash-generation outlook. Charles Schwab to buy back $20 billion of stock
• Positive Sentiment: Analysts continue to favor SCHW as a growth stock: Charles Schwab was included among analysts’ preferred growth names, reflecting confidence in demand trends and longer-term catalysts. The view is consistent with the company’s latest quarterly performance, which included earnings and revenue above consensus and 20.9% year-over-year revenue growth. Best Growth Stocks to Buy This Week
• Positive Sentiment: Retail investor sentiment is improving: Schwab executive James Kostulias said bullishness among retail traders is rising. Greater investor participation and trading activity could support Schwab’s brokerage-related revenue and asset-gathering trends. Charles Schwab executive discusses rising retail bullishness
• Positive Sentiment: Potential cryptocurrency-regulation tailwind: Schwab reportedly backed the CLARITY Act ahead of an August deadline. Clearer digital-asset rules could help established financial firms expand crypto-related products and services, although the legislation remains subject to the legislative process. Charles Schwab backs the CLARITY Act
• Neutral Sentiment: Commentary highlighting “three big reasons” to favor SCHW and a report on billionaire investor Andreas Halvorsen’s holdings add to positive market attention, but these opinions are not new company fundamentals or formal analyst actions. Three big reasons to favor Charles Schwab Andreas Halvorsen’s top picks
• Negative Sentiment: Several insiders sold shares, including General Counsel Peter J. Morgan III and executives Jonathan S. Beatty and Nigel J. Murtagh. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, but they may still create limited investor caution.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 6,952 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total value of $208,420.00. Following the sale, the insider directly owned 11,738 shares of the company’s stock, valued at $1,223,216.98. The trade was a 14.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,005 shares of company stock worth $1,733,892 in the last quarter. Company insiders own 6.30% of the company’s stock.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.