W.H. Cornerstone Investments Inc. Makes New $246,000 Investment in The Charles Schwab Corporation $SCHW

W.H. Cornerstone Investments Inc. acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,699 shares of the financial services provider’s stock, valued at approximately $246,000.

Other hedge funds have also modified their holdings of the company. Bryn Mawr Trust Advisors LLC boosted its position in Charles Schwab by 2.0% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 107 shares during the period. Pine Haven Investment Counsel Inc increased its position in Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares during the period. Principle Wealth Partners LLC boosted its holdings in Charles Schwab by 2.0% in the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 113 shares during the period. Traveka Wealth LLC raised its stake in shares of Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after buying an additional 117 shares in the last quarter. Finally, 1ST Source Bank raised its position in Charles Schwab by 0.5% in the 2nd quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock valued at $2,161,000 after purchasing an additional 117 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded down $0.85 on Thursday, reaching $96.86. The stock had a trading volume of 783,168 shares, compared to its average volume of 9,697,901. The business’s 50 day moving average is $94.06 and its two-hundred day moving average is $92.23. The company has a market cap of $172.11 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued 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. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Dividend Announcement

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

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,866 shares of company stock valued at $6,370,897 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Barclays increased their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Citigroup raised their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Profile

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.