Victory Capital Management Inc. Acquires 22,208 Shares of The Charles Schwab Co. (NYSE:SCHW)

Victory Capital Management Inc. increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 579,518 shares of the financial services provider’s stock after acquiring an additional 22,208 shares during the quarter. Victory Capital Management Inc.’s holdings in Charles Schwab were worth $42,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BBR Partners LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $368,000. Columbia Asset Management boosted its stake in Charles Schwab by 42.0% in the second quarter. Columbia Asset Management now owns 24,929 shares of the financial services provider’s stock valued at $1,837,000 after acquiring an additional 7,378 shares during the last quarter. First Business Financial Services Inc. grew its position in shares of Charles Schwab by 23.1% during the 2nd quarter. First Business Financial Services Inc. now owns 4,976 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 935 shares during the period. First Dallas Securities Inc. increased its stake in shares of Charles Schwab by 3.4% during the 2nd quarter. First Dallas Securities Inc. now owns 24,001 shares of the financial services provider’s stock worth $1,769,000 after purchasing an additional 786 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Charles Schwab by 44.5% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,638 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 812 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SCHW. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. JMP Securities lowered their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Morgan Stanley cut their target price on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Barclays cut their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.00.

Charles Schwab Price Performance

Charles Schwab stock opened at $63.01 on Tuesday. The stock has a market cap of $112.06 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.18 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $66.23 and a 200 day simple moving average of $70.13. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the prior year, the business earned $0.75 earnings per share. Charles Schwab’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now owns 567,057 shares in the company, valued at $35,134,851.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the transaction, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,800 shares of company stock worth $7,145,364. Corporate insiders own 6.60% of the company’s stock.

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.