Coordinated Financial Services Inc. Invests $265,000 in The Charles Schwab Corporation $SCHW

Coordinated Financial Services Inc. purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,902 shares of the financial services provider’s stock, valued at approximately $265,000.

Several other large investors have also modified their holdings of SCHW. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares during the last quarter. RMG Wealth Management LLC bought a new position in Charles Schwab in the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab in the first quarter worth about $31,000. Finally, Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 2.1%

Shares of SCHW stock opened at $92.08 on Friday. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The stock has a market cap of $167.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The business’s fifty day moving average is $94.97 and its 200-day moving average is $89.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Charles Schwab declared that its board has initiated a stock buyback program on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent research reports. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Piper Sandler raised their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last quarter. Company insiders own 6.30% of the company’s stock.

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.