Azora Capital LP Sells 1,112,376 Shares of The Charles Schwab Corporation $SCHW

Azora Capital LP cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 68.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 507,207 shares of the financial services provider’s stock after selling 1,112,376 shares during the quarter. Charles Schwab accounts for approximately 2.1% of Azora Capital LP’s holdings, making the stock its 20th biggest holding. Azora Capital LP’s holdings in Charles Schwab were worth $46,278,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after purchasing an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Charles Schwab in the 1st quarter worth approximately $79,605,000. Figure 8 Investment Strategies LLC bought a new position in Charles Schwab during the 2nd quarter valued at approximately $924,000. Independent Advisor Alliance raised its stake in Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after buying an additional 4,754 shares during the last quarter. Finally, PFG Investments LLC raised its stake in Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. This trade represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 0.1%

NYSE:SCHW opened at $94.17 on Wednesday. The company has a market cap of $167.34 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.96. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $93.65 and a two-hundred day simple moving average of $93.30. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW) last released 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. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Truist Financial increased their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, Morgan Stanley boosted their price objective on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $107.11.

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.