The Charles Schwab Corp. (SCHW) Short Interest Update
The Charles Schwab Corp. (NYSE:SCHW) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 22,234,041 shares, a decrease of 8.4% from the August 31st total of 24,279,074 shares. Based on an average daily volume of 8,001,754 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.9% of the company’s stock are short sold.
Shares of The Charles Schwab Corp. (NYSE:SCHW) opened at 32.40 on Friday. The Charles Schwab Corp. has a 52 week low of $21.51 and a 52 week high of $34.52. The company’s 50-day moving average price is $31.00 and its 200 day moving average price is $28.95. The company has a market cap of $42.87 billion, a P/E ratio of 27.93 and a beta of 1.55.
The Charles Schwab Corp. (NYSE:SCHW) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.80 billion. The Charles Schwab Corp. had a return on equity of 13.03% and a net margin of 24.07%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. Equities research analysts anticipate that The Charles Schwab Corp. will post $1.26 earnings per share for the current fiscal year.
In other news, EVP Nigel J. Murtagh sold 2,500 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $29.72, for a total value of $74,300.00. Following the sale, the executive vice president now directly owns 35,137 shares of the company’s stock, valued at $1,044,271.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marie A. Chandoha sold 6,076 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $32.00, for a total value of $194,432.00. The disclosure for this sale can be found here. 12.60% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Allen Investment Management LLC increased its stake in The Charles Schwab Corp. by 6.8% in the first quarter. Allen Investment Management LLC now owns 1,645,586 shares of the company’s stock valued at $46,109,000 after buying an additional 104,417 shares during the last quarter. Bank of Montreal Can purchased a new stake in The Charles Schwab Corp. during the second quarter valued at $30,353,000. First Manhattan Co. increased its stake in The Charles Schwab Corp. by 36.6% in the second quarter. First Manhattan Co. now owns 1,493,865 shares of the company’s stock valued at $37,809,000 after buying an additional 400,350 shares during the last quarter. Atlanta Capital Management Co. L L C purchased a new stake in The Charles Schwab Corp. during the first quarter valued at $36,833,000. Finally, Oak Associates Ltd. OH increased its stake in The Charles Schwab Corp. by 5.0% in the first quarter. Oak Associates Ltd. OH now owns 1,116,658 shares of the company’s stock valued at $31,289,000 after buying an additional 52,696 shares during the last quarter. Institutional investors and hedge funds own 76.45% of the company’s stock.
A number of equities research analysts have recently commented on the company. Barclays PLC increased their target price on The Charles Schwab Corp. from $29.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Deutsche Bank AG reissued a “buy” rating on shares of The Charles Schwab Corp. in a research note on Sunday, June 26th. Jefferies Group dropped their price objective on The Charles Schwab Corp. from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Nomura reaffirmed a “buy” rating on shares of The Charles Schwab Corp. in a research report on Monday, July 11th. Finally, Zacks Investment Research raised The Charles Schwab Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.63.
About The Charles Schwab Corp.
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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