7,723 Shares in The Charles Schwab Corporation $SCHW Bought by Heartland Bank & Trust Co

Heartland Bank & Trust Co acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 7,723 shares of the financial services provider’s stock, valued at approximately $713,000.

A number of other hedge funds have also bought and sold shares of SCHW. Dogwood Wealth Management LLC raised its stake in shares of Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 123 shares during the period. Scarborough Advisors LLC bought a new position in Charles Schwab during the 1st quarter valued at about $29,000. McIlrath & Eck LLC grew its holdings in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 189 shares during the last quarter. Main Street Group LTD purchased a new stake in Charles Schwab in the 1st quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. raised its position in Charles Schwab by 233.6% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 357 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 250 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Morgan Stanley increased their price target on Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 price objective on shares of Charles Schwab in a research report on Wednesday, July 22nd. BMO Capital Markets lowered Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a research note on Monday, July 20th. Finally, Argus lifted their target price on Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $112.36 on Friday. The firm’s 50 day simple moving average is $101.59 and its 200-day simple moving average is $96.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $112.40. The firm has a market cap of $194.31 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 0.84 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Charles Schwab’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given 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 presently 23.27%.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 192,488 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $103.90, for a total value of $19,999,503.20. Following the completion of the sale, the chairman directly owned 529,346 shares of the company’s stock, valued at $54,999,049.40. This represents a 26.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paula A. Sneed sold 5,263 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $107.15, for a total transaction of $563,930.45. Following the transaction, the director owned 91,711 shares in the company, valued at approximately $9,826,833.65. The trade was a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 398,984 shares of company stock worth $41,699,569. Insiders own 6.30% of the company’s stock.

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.