The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 32.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,042 shares of the financial services provider’s stock after selling 20,788 shares during the quarter. Hodges Capital Management Inc.’s holdings in Charles Schwab were worth $3,113,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in Charles Schwab by 65.3% in the third quarter. Acadian Asset Management LLC now owns 19,006 shares of the financial services provider’s stock valued at $1,042,000 after buying an additional 7,505 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Charles Schwab by 34.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 47,161 shares of the financial services provider’s stock valued at $2,589,000 after buying an additional 12,197 shares during the last quarter. MQS Management LLC bought a new stake in Charles Schwab in the third quarter valued at $214,000. Synovus Financial Corp lifted its stake in Charles Schwab by 9.5% in the third quarter. Synovus Financial Corp now owns 53,529 shares of the financial services provider’s stock valued at $2,939,000 after buying an additional 4,641 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Charles Schwab in the third quarter valued at $17,261,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SCHW. UBS Group lifted their price objective on shares of Charles Schwab from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. TD Cowen cut their price objective on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Bank of America lifted their price objective on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Barclays lifted their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Citigroup lifted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $75.56.

Charles Schwab Trading Up 0.2 %

Shares of SCHW opened at $73.69 on Friday. The business’s 50-day moving average price is $74.42 and its 200 day moving average price is $69.81. The stock has a market capitalization of $130.97 billion, a P/E ratio of 30.83, a P/E/G ratio of 1.14 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. Analysts expect that The Charles Schwab Co. will post 3.25 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 10,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.40, for a total transaction of $724,000.00. Following the transaction, the insider now owns 71,446 shares of the company’s stock, valued at approximately $5,172,690.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Charles Schwab news, insider Nigel J. Murtagh sold 10,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.40, for a total transaction of $724,000.00. Following the transaction, the insider now owns 71,446 shares of the company’s stock, valued at approximately $5,172,690.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bernard J. Clark sold 77,431 shares of Charles Schwab stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares in the company, valued at approximately $8,630,986.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 658,663 shares of company stock valued at $48,997,146. 6.60% of the stock is owned by corporate insiders.

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.