Fulton Bank N.A. Sells 511 Shares of The Charles Schwab Co. (NYSE:SCHW)

Fulton Bank N.A. lowered its stake in The Charles Schwab Co. (NYSE:SCHWGet Rating) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,798 shares of the financial services provider’s stock after selling 511 shares during the quarter. Fulton Bank N.A.’s holdings in Charles Schwab were worth $556,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SCHW. SBK Financial Inc. bought a new stake in Charles Schwab during the 4th quarter valued at $25,000. Princeton Global Asset Management LLC increased its stake in Charles Schwab by 104.5% during the 1st quarter. Princeton Global Asset Management LLC now owns 321 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 164 shares in the last quarter. Roble Belko & Company Inc purchased a new position in Charles Schwab during the 1st quarter worth $30,000. Worth Asset Management LLC purchased a new position in Charles Schwab during the 1st quarter worth $32,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in Charles Schwab during the 1st quarter worth $33,000. Institutional investors own 82.45% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 149,600 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $65.36, for a total transaction of $9,777,856.00. Following the sale, the chairman now directly owns 69,749,230 shares of the company’s stock, valued at $4,558,809,672.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Charles R. Schwab sold 149,600 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $65.36, for a total transaction of $9,777,856.00. Following the sale, the chairman now directly owns 69,749,230 shares in the company, valued at $4,558,809,672.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 120,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $62.70, for a total value of $7,524,000.00. Following the sale, the chairman now owns 71,083,305 shares in the company, valued at $4,456,923,223.50. The disclosure for this sale can be found here. Insiders have sold a total of 277,632 shares of company stock valued at $17,904,256 over the last three months. 7.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $90.00 to $95.00 in a report on Friday, August 19th. Morgan Stanley cut their price objective on shares of Charles Schwab from $98.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday, August 1st. UBS Group lifted their price objective on shares of Charles Schwab from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. Barclays assumed coverage on shares of Charles Schwab in a report on Wednesday, August 31st. They set an “equal weight” rating and a $81.00 price objective on the stock. Finally, Redburn Partners assumed coverage on shares of Charles Schwab in a report on Thursday, June 23rd. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.15.

Charles Schwab Price Performance

NYSE SCHW opened at $71.87 on Friday. The company has a market cap of $130.64 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The Charles Schwab Co. has a 52 week low of $59.35 and a 52 week high of $96.24. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $69.42 and its two-hundred day simple moving average is $71.60.

Charles Schwab (NYSE:SCHWGet Rating) last released its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.04 billion. Charles Schwab had a net margin of 33.09% and a return on equity of 16.82%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. Research analysts predict that The Charles Schwab Co. will post 3.9 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 11th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.22%. Charles Schwab’s dividend payout ratio is 28.95%.

Charles Schwab Profile

(Get Rating)

The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

Further Reading

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHWGet Rating).

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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