FORA Capital LLC Acquires New Shares in The Charles Schwab Corporation $SCHW

FORA Capital LLC bought a new position in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 52,261 shares of the financial services provider’s stock, valued at approximately $4,768,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Bryn Mawr Trust Advisors LLC grew its stake in shares of Charles Schwab by 2.0% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after buying an additional 107 shares in the last quarter. Nicolet Bankshares Inc. grew its position in Charles Schwab by 0.8% in the second quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock worth $1,191,000 after acquiring an additional 107 shares in the last quarter. Pine Haven Investment Counsel Inc increased its stake in shares of Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after purchasing an additional 110 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Charles Schwab by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,330 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 110 shares in the last quarter. Finally, Principle Wealth Partners LLC raised its holdings in shares of Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 113 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

NYSE:SCHW opened at $96.63 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a fifty day moving average price of $93.86 and a 200 day moving average price of $93.44. The stock has a market cap of $171.71 billion, a P/E ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. Analysts anticipate 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. Shareholders of record on Friday, November 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Analyst Ratings Changes

SCHW has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Barclays cut their price objective on Charles Schwab from $115.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Morgan Stanley upped their target price on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.37.

Insider Buying and Selling

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

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.