The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.8% in the first quarter, HoldingsChannel reports. The firm owned 6,862 shares of the financial services provider’s stock after buying an additional 615 shares during the period. Mission Wealth Management LP’s holdings in Charles Schwab were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. acquired a new position in Charles Schwab during the first quarter valued at $25,000. WFA Asset Management Corp acquired a new position in shares of Charles Schwab in the first quarter worth about $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Charles Schwab in the fourth quarter worth about $38,000. Atala Financial Inc acquired a new position in shares of Charles Schwab in the fourth quarter worth about $41,000. Finally, Investors Research Corp raised its position in shares of Charles Schwab by 75.2% in the first quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 240 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 1.1%

Shares of NYSE SCHW opened at $89.90 on Thursday. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $90.19. The stock has a market cap of $163.35 billion, a PE ratio of 27.24, a P/E/G ratio of 0.95 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $84.24 and a 200 day moving average of $80.01.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the prior year, the company earned $0.74 EPS. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.20%. Charles Schwab’s dividend payout ratio is presently 32.73%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Insiders have sold 97,608 shares of company stock worth $8,392,040 in the last ninety days. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCHW. Piper Sandler upped their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. UBS Group upped their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Truist Financial upped their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $89.40.

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.