Zions Bancorporation N.A. Sells 190 Shares of The Charles Schwab Co. (NYSE:SCHW)

Zions Bancorporation N.A. lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 19.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 793 shares of the financial services provider’s stock after selling 190 shares during the quarter. Zions Bancorporation N.A.’s holdings in Charles Schwab were worth $58,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. GHP Investment Advisors Inc. grew its stake in Charles Schwab by 2.2% in the 2nd quarter. GHP Investment Advisors Inc. now owns 61,675 shares of the financial services provider’s stock valued at $4,545,000 after buying an additional 1,324 shares during the last quarter. Meeder Advisory Services Inc. grew its position in shares of Charles Schwab by 40.4% in the second quarter. Meeder Advisory Services Inc. now owns 22,291 shares of the financial services provider’s stock valued at $1,643,000 after purchasing an additional 6,411 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Charles Schwab by 33.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 560,994 shares of the financial services provider’s stock worth $41,133,000 after purchasing an additional 141,676 shares during the period. Beverly Hills Private Wealth LLC lifted its position in shares of Charles Schwab by 4.8% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 72,420 shares of the financial services provider’s stock worth $5,337,000 after purchasing an additional 3,325 shares during the last quarter. Finally, Eagle Strategies LLC bought a new stake in Charles Schwab during the 2nd quarter valued at approximately $943,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SCHW. Jefferies Financial Group upped their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. UBS Group reduced their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $80.00 to $64.00 in a report on Monday, July 29th. Wells Fargo & Company started coverage on shares of Charles Schwab in a research note on Thursday. They issued an “equal weight” rating and a $70.00 target price for the company. Finally, Barclays lowered their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $73.75.

Charles Schwab Trading Up 0.6 %

Shares of SCHW stock opened at $62.12 on Monday. 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 company has a market capitalization of $110.48 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The firm has a 50-day moving average price of $65.33 and a 200 day moving average price of $70.07.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. 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 firm also recently announced 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 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is presently 41.84%.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,636 shares of company stock worth $6,533,064. 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.