Midwest Trust Co Makes New $24.80 Million Investment in The Charles Schwab Corporation $SCHW

Midwest Trust Co acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 271,837 shares of the financial services provider’s stock, valued at approximately $24,802,000.

Several other large investors have also recently made changes to their positions in the business. Princeton Global Asset Management LLC purchased a new stake in Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management raised its holdings in shares of Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,866 shares of company stock valued at $6,370,897 in the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 1.2%

SCHW stock opened at $95.33 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $173.05 billion, a PE ratio of 22.33, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The stock has a 50-day simple moving average of $94.03 and a two-hundred day simple moving average of $91.87.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Citigroup boosted their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Truist Financial lifted their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Company 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.