Bridges Investment Management Inc. Acquires Shares of 22,055 The Charles Schwab Co. (NYSE:SCHW)

Bridges Investment Management Inc. bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,055 shares of the financial services provider’s stock, valued at approximately $1,625,000.

A number of other institutional investors also recently modified their holdings of SCHW. Nelson Capital Management LLC boosted its holdings in Charles Schwab by 0.4% in the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after purchasing an additional 141 shares during the period. Abbrea Capital LLC grew its position in Charles Schwab by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares in the last quarter. Ironwood Financial llc raised its holdings in Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares in the last quarter. Ascent Wealth Partners LLC lifted its position in shares of Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after acquiring an additional 164 shares during the period. Finally, Sculati Wealth Management LLC grew its holdings in shares of Charles Schwab by 0.4% during the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCHW. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Thursday, August 22nd. Bank of America cut their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company assumed coverage on Charles Schwab in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $73.75.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Richard A. Wurster acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the purchase, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Trading Up 1.0 %

Shares of NYSE SCHW opened at $65.38 on Friday. The firm has a 50 day moving average price of $64.28 and a two-hundred day moving average price of $69.93. The stock has a market cap of $116.27 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

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, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion during 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 quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is presently 41.84%.

Charles Schwab Profile

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.