Bowen Hanes & Co. Inc. Boosts Position in The Charles Schwab Corporation $SCHW

Bowen Hanes & Co. Inc. raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 740,788 shares of the financial services provider’s stock after purchasing an additional 127,495 shares during the period. Charles Schwab accounts for about 1.7% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 22nd biggest position. Bowen Hanes & Co. Inc.’s holdings in Charles Schwab were worth $69,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC boosted its holdings in shares of Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after buying an additional 123 shares in the last quarter. Piscataqua Savings Bank purchased a new position in shares of Charles Schwab in the 4th quarter valued at $26,000. Beacon Financial Strategies CORP acquired a new stake in Charles Schwab during the 4th quarter worth $29,000. Scarborough Advisors LLC acquired a new stake in Charles Schwab during the 1st quarter worth $29,000. Finally, Optima Capital LLC purchased a new stake in Charles Schwab in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $101.62 on Friday. The stock has a market capitalization of $176.73 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The company’s fifty day moving average is $93.71 and its two-hundred day moving average is $95.35.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the business earned $1.14 EPS. The business’s revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Corporation will post 6.34 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.40%.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total transaction of $200,020.00. Following the transaction, the insider owned 13,738 shares in the company, valued at approximately $1,373,937.38. The trade was a 12.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the transaction, the director directly owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,520 shares of company stock worth $622,392 in the last ninety days. 6.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several research analyst reports. Piper Sandler set a $118.00 price objective on shares of Charles Schwab in a research note on Tuesday. Zacks Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. 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. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday. Finally, Keefe, Bruyette & Woods started coverage on Charles Schwab in a research report on Wednesday, April 8th. They set an “outperform” rating and a $110.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $119.76.

More Charles Schwab News

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

• Positive Sentiment: Schwab beat Q2 estimates, with record daily average revenue trades, a 20%+ revenue increase, and management raising full-year guidance, signaling strong operating momentum. Schwab Beats 2Q Estimates as Retail Traders Pile Into Market
• Positive Sentiment: Analysts turned more bullish, with Argus lifting its price target to $114 and Barclays raising its target to $125, both with positive ratings. Analyst price target increases
• Positive Sentiment: Schwab was added to Zacks’ Rank #1 “Strong Buy” income stocks list, which can support investor sentiment around the name. Best Income Stocks to Buy for July 23rd
• Neutral Sentiment: Schwab declared its regular quarterly common stock dividend and preferred dividends, reinforcing its shareholder-return profile but not changing the core growth story. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Negative Sentiment: Some coverage noted that SCHW shares fell despite the earnings surge, suggesting traders may be taking profits after the run-up or focusing on valuation near recent highs. Interactive Brokers, Charles Schwab Slide Despite Earnings Surge

About Charles Schwab

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.