The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.5% in the second quarter, HoldingsChannel reports. The firm owned 67,665 shares of the financial services provider’s stock after selling 4,689 shares during the quarter. Valley National Advisers Inc.’s holdings in Charles Schwab were worth $4,986,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SCHW. Country Trust Bank purchased a new position in Charles Schwab during the 2nd quarter valued at about $26,000. Fortitude Family Office LLC increased its stake in shares of Charles Schwab by 97.5% in 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 last quarter. CGC Financial Services LLC bought a new stake in shares of Charles Schwab in the second quarter worth $29,000. Frazier Financial Advisors LLC acquired a new position in Charles Schwab in the fourth quarter worth $30,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Charles Schwab during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCHW. JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Morgan Stanley lowered their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Bank of America decreased their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $76.00 to $84.00 in a report on Monday, July 8th. Finally, Barclays cut their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 17th. Three 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 company. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average target price of $74.27.

Charles Schwab Trading Up 0.5 %

Shares of Charles Schwab stock traded up $0.31 on Friday, hitting $65.54. 5,335,047 shares of the company’s stock traded hands, compared to its average volume of 8,024,689. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. 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 company has a fifty day moving average of $69.14 and a two-hundred day moving average of $69.93. The company has a market capitalization of $116.48 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the completion of the sale, the director now owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the completion of the sale, the director now owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,911 shares of company stock worth $12,541,978. 6.60% of the stock is owned by corporate insiders.

Charles Schwab 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.