Bingham Private Wealth LLC Sells 324 Shares of The Charles Schwab Corporation $SCHW

Bingham Private Wealth LLC trimmed its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,638 shares of the financial services provider’s stock after selling 324 shares during the period. Bingham Private Wealth LLC’s holdings in Charles Schwab were worth $606,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Bain Capital Public Equity Management II LLC acquired a new position in Charles Schwab in the 1st quarter valued at approximately $79,605,000. Independent Advisor Alliance increased its position 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 raised its stake in shares of Charles Schwab by 6.2% in 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 in the last quarter. PFG Investments LLC lifted its position in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the period. Finally, United Services Automobile Association boosted its stake in Charles Schwab by 14.1% during the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock worth $3,074,000 after buying an additional 4,869 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the firm’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 sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

NYSE SCHW opened at $93.98 on Tuesday. The Charles Schwab Corporation has a 1-year low of $64.16 and a 1-year high of $99.59. The company has a 50 day moving average of $95.29 and a 200-day moving average of $88.82. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $170.59 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. On average, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has authorized a stock repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is presently 29.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SCHW shares. Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Morgan Stanley lowered their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Barclays raised their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. JMP Securities upped their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Finally, BMO Capital Markets began coverage on Charles Schwab in a report on Friday. They issued an “outperform” rating and a $110.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.52.

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.