The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Iowa State Bank

Iowa State Bank lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 37.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,476 shares of the financial services provider’s stock after purchasing an additional 7,829 shares during the period. Iowa State Bank’s holdings in Charles Schwab were worth $1,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nelson Capital Management LLC raised its holdings in shares of Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after buying an additional 141 shares during the last quarter. Abbrea Capital LLC increased its holdings in shares of Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 142 shares during the period. Ironwood Financial llc raised its stake in shares of Charles Schwab by 1.6% during the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares during the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 164 shares during the period. Finally, Sutton Place Investors LLC increased its stake in Charles Schwab by 2.1% in the 2nd quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock valued at $596,000 after buying an additional 167 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 1.5 %

Shares of SCHW stock opened at $67.68 on Friday. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The company has a market capitalization of $120.36 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.43 and a beta of 0.97. The firm has a 50-day moving average price of $64.12 and a 200 day moving average price of $69.56. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Research analysts forecast that The Charles Schwab Co. will post 3.07 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.48%. Charles Schwab’s payout ratio is currently 41.49%.

Insider Buying and Selling

In other Charles Schwab news, CEO Walter W. Bettinger purchased 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,856 shares of company stock worth $6,398,604. 6.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on SCHW shares. Citigroup lowered their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. The Goldman Sachs Group cut their target price on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Bank of America decreased their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.25.

Charles Schwab Company 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.