Morton Community Bank Has $801,000 Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Morton Community Bank decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 75.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,867 shares of the financial services provider’s stock after selling 33,083 shares during the period. Morton Community Bank’s holdings in Charles Schwab were worth $801,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SCHW. Country Trust Bank acquired a new position in Charles Schwab in the 2nd quarter worth $26,000. American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the second quarter valued at about $27,000. Fortitude Family Office LLC boosted its position in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the period. CGC Financial Services LLC bought a new position in shares of Charles Schwab during the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares in the company, valued at approximately $35,134,851.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were purchased at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the purchase, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 107,800 shares of company stock valued at $7,145,364. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Charles Schwab stock traded down $0.79 during mid-day trading on Friday, reaching $62.90. 8,331,675 shares of the company were exchanged, compared to its average volume of 7,662,919. The company has a fifty day simple moving average of $66.44 and a 200-day simple moving average of $70.10. The firm has a market cap of $111.79 billion, a PE ratio of 26.32, a PEG ratio of 1.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.05 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. Shareholders of record on Friday, August 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analyst Ratings Changes

A number of research analysts recently weighed in on SCHW shares. UBS Group lowered their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays dropped their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group boosted their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Bank of America cut their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.00.

About Charles Schwab

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.