Rockland Trust Co. Purchases 34,588 Shares of The Charles Schwab Corporation $SCHW

Rockland Trust Co. raised its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 391,764 shares of the financial services provider’s stock after buying an additional 34,588 shares during the period. Charles Schwab comprises approximately 1.4% of Rockland Trust Co.’s investment portfolio, making the stock its 19th biggest position. Rockland Trust Co.’s holdings in Charles Schwab were worth $36,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Dogwood Wealth Management LLC increased its stake in Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 123 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at $29,000. Optima Capital LLC bought a new position in shares of Charles Schwab in the fourth quarter worth about $30,000. McIlrath & Eck LLC increased its stake in Charles Schwab by 143.2% in the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after buying an additional 189 shares during the period. Finally, Main Street Group LTD bought a new stake in Charles Schwab during the 1st quarter valued at about $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 0.1%

SCHW opened at $107.55 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The firm has a market cap of $187.04 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 0.82 and a beta of 0.76. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $109.05. The stock has a fifty day moving average price of $97.28 and a 200-day moving average price of $95.66.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Charles Schwab’s payout ratio is 23.27%.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total transaction of $208,420.00. Following the transaction, the insider directly owned 11,738 shares of the company’s stock, valued at approximately $1,223,216.98. This represents a 14.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 93,408 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $104.64, for a total value of $9,774,213.12. Following the completion of the sale, the chairman directly owned 529,346 shares of the company’s stock, valued at $55,390,765.44. The trade was a 15.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 363,848 shares of company stock valued at $37,874,706 over the last three months. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of several research reports. Zacks Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Barclays lifted their price target on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Wolfe Research restated an “outperform” rating and set a $127.00 price objective on shares of Charles Schwab in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. increased their price target on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.17.

About Charles Schwab

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.