Cary Street Partners Financial LLC Has $2.98 Million Stake in The Charles Schwab Corporation $SCHW

by · The Cerbat Gem

Cary Street Partners Financial LLC increased its stake in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 24.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 32,700 shares of the financial services provider’s stock after purchasing an additional 6,398 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Charles Schwab were worth $2,984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bryn Mawr Trust Advisors LLC increased its stake in Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after purchasing an additional 107 shares in the last quarter. Nicolet Bankshares Inc. boosted its position in shares of Charles Schwab by 0.8% during the 2nd quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock worth $1,191,000 after purchasing an additional 107 shares in the last quarter. Pine Haven Investment Counsel Inc grew its stake in shares of 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 valued at $3,813,000 after buying an additional 110 shares during the period. Patrick M Sweeney & Associates Inc. increased its position in Charles Schwab by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,330 shares of the financial services provider’s stock valued at $1,219,000 after buying an additional 110 shares in the last quarter. Finally, Principle Wealth Partners LLC raised its stake in Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock worth $537,000 after buying an additional 113 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

SCHW opened at $94.24 on Tuesday. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $167.46 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 0.83 and a beta of 0.96. The firm’s fifty day moving average price is $93.68 and its two-hundred day moving average price is $93.25.

Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the firm earned $0.71 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SCHW shares. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Morgan Stanley lifted their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. TD Cowen upped their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Truist Financial boosted their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.11.

Check Out Our Latest Stock Analysis on Charles Schwab

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on 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 transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by insiders.

Charles Schwab Profile

(Free Report)

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.

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