38,458 Shares in The Charles Schwab Corporation (NYSE:SCHW) Acquired by Cape Cod Five Cents Savings Bank

Cape Cod Five Cents Savings Bank acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 38,458 shares of the financial services provider’s stock, valued at approximately $1,652,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Pinnacle Bank acquired a new stake in shares of The Charles Schwab Corporation during the first quarter worth approximately $119,000. First Bank & Trust boosted its stake in shares of The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after buying an additional 287 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock worth $133,000 after buying an additional 207 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of The Charles Schwab Corporation during the first quarter worth approximately $154,000. 79.11% of the stock is owned by hedge funds and other institutional investors.

The Charles Schwab Corporation (NYSE SCHW) traded up 0.02% on Friday, reaching $42.55. 5,195,184 shares of the company’s stock were exchanged. The Charles Schwab Corporation has a one year low of $27.71 and a one year high of $44.10. The firm has a 50 day moving average of $42.48 and a 200-day moving average of $40.94. The stock has a market cap of $56.93 billion, a price-to-earnings ratio of 28.56 and a beta of 1.64.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

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A number of analysts have commented on the stock. Deutsche Bank AG cut shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating and upped their target price for the company from $40.00 to $43.00 in a report on Tuesday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $48.00 price objective (up from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Citigroup Inc. assumed coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective for the company. Rosenblatt Securities initiated coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective for the company. Finally, BidaskClub lowered shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $44.00.

In related news, EVP Joseph R. Martinetto sold 89,330 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total transaction of $3,797,418.30. Following the transaction, the executive vice president now directly owns 207,961 shares of the company’s stock, valued at approximately $8,840,422.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Terri R. Kallsen sold 10,536 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $43.15, for a total value of $454,628.40. Following the transaction, the executive vice president now directly owns 5,212 shares in the company, valued at $224,897.80. The disclosure for this sale can be found here. Insiders sold a total of 216,208 shares of company stock worth $9,151,381 over the last ninety days. Corporate insiders own 12.00% of the company’s stock.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)




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