Pointe Capital Management LLC Makes New $504,000 Investment in The Charles Schwab Corporation $SCHW

Pointe Capital Management LLC acquired a new position in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,461 shares of the financial services provider’s stock, valued at approximately $504,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dogwood Wealth Management LLC increased its position in Charles Schwab by 99.2% during the 4th 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 in the last quarter. Compass Financial Management LLC purchased a new stake in Charles Schwab during the second quarter worth approximately $27,000. Scarborough Advisors LLC purchased a new stake in Charles Schwab during the first quarter worth approximately $29,000. McIlrath & Eck LLC increased its position in shares of Charles Schwab by 143.2% in the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 189 shares in the last quarter. Finally, Main Street Group LTD acquired a new stake in shares of Charles Schwab in the first quarter worth $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 1.1%

SCHW opened at $112.43 on Wednesday. The firm’s 50 day moving average is $102.42 and its 200-day moving average is $96.22. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $114.53. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $194.43 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.85 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. Analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is currently 23.27%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 5,263 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $107.15, for a total value of $563,930.45. Following the completion of the transaction, the director directly owned 91,711 shares of the company’s stock, valued at $9,826,833.65. This represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 192,488 shares of the firm’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 sale, the chairman 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 398,984 shares of company stock worth $41,699,569 over the last three months. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SCHW. Barclays lifted their target price on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. UBS Group set a $135.00 price target on Charles Schwab in a report on Monday, August 3rd. TD Cowen raised their price objective on Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Morgan Stanley boosted their price objective on Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.17.

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.