Pinnbrook Capital Management LP Makes New $4.83 Million Investment in The Charles Schwab Corporation $SCHW

Pinnbrook Capital Management LP purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, Holdings Channel reports. The fund purchased 21,300 shares of the financial services provider’s stock, valued at approximately $4,831,000.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 19,195 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Charles Schwab by 21.6% in the second quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 809 shares in the last quarter. United Bank boosted its stake in shares of Charles Schwab by 7.1% during the second quarter. United Bank now owns 16,053 shares of the financial services provider’s stock valued at $1,465,000 after acquiring an additional 1,070 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Charles Schwab during the second quarter valued at $552,000. Finally, Main Street Financial Solutions LLC increased its position in Charles Schwab by 4.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock worth $623,000 after purchasing an additional 305 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Argus boosted their target price on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. UBS Group set a $135.00 price target on shares of Charles Schwab in a report on Monday, August 3rd. BMO Capital Markets lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a research report on Monday, July 20th. Finally, TD Cowen upped their price objective on shares of Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Charles Schwab Stock Performance

Charles Schwab stock opened at $112.36 on Friday. The firm has a market capitalization of $194.31 billion, a P/E ratio of 20.43, a PEG ratio of 0.86 and a beta of 0.76. The stock has a fifty day moving average price of $101.59 and a 200 day moving average price of $96.15. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $112.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 23.27%.

Insider Buying and Selling at Charles Schwab

In related news, insider Nigel J. Murtagh sold 32,947 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $104.01, for a total value of $3,426,817.47. Following the completion of the sale, the insider directly owned 57,972 shares in the company, valued at approximately $6,029,667.72. The trade was a 36.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 192,488 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $103.90, for a total transaction of $19,999,503.20. Following the transaction, the chairman directly owned 529,346 shares of the company’s stock, valued at $54,999,049.40. This trade represents a 26.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 398,984 shares of company stock worth $41,699,569. 6.30% of the stock is currently owned by insiders.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.