Davis Capital Management Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Davis Capital Management boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 152.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,408 shares of the financial services provider’s stock after acquiring an additional 850 shares during the period. Davis Capital Management’s holdings in Charles Schwab were worth $91,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nelson Capital Management LLC grew its position in shares of Charles Schwab by 0.4% during 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 in the last quarter. Abbrea Capital LLC increased its stake in Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 142 shares during the last quarter. Ironwood Financial llc raised its holdings in shares of 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 boosted 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 last quarter. Finally, Sutton Place Investors LLC grew its holdings in shares of Charles Schwab by 2.1% during the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $63.32 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $64.06 and its two-hundred day moving average price is $69.78. The stock has a market capitalization of $112.60 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 1.32 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.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, equities analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared 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 1.58%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Analysts Set New Price Targets

Several brokerages have issued reports on SCHW. The Goldman Sachs Group dropped their target price on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Jefferies Financial Group upped their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley cut their price objective on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Finally, Citigroup decreased their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.31.

Insider Buying and Selling at Charles Schwab

In related news, CEO Walter W. Bettinger purchased 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by company 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.