Orca Investment Management LLC Makes New Investment in The Charles Schwab Corporation $SCHW

Orca Investment Management LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,569 shares of the financial services provider’s stock, valued at approximately $422,000.

A number of other institutional investors have also recently modified their holdings of SCHW. Brighton Jones LLC increased its position in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. Sivia Capital Partners LLC raised its stake in Charles Schwab by 21.6% in the second quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 809 shares in the last quarter. United Bank lifted its position in Charles Schwab by 7.1% during the second quarter. United Bank now owns 16,053 shares of the financial services provider’s stock worth $1,465,000 after purchasing an additional 1,070 shares during the period. Nebula Research & Development LLC bought a new stake in Charles Schwab during the second quarter worth about $552,000. Finally, Main Street Financial Solutions LLC grew its stake in Charles Schwab by 4.7% during the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock worth $623,000 after buying an additional 305 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SCHW. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. UBS Group set a $135.00 price target on shares of Charles Schwab in a report on Monday, August 3rd. TD Cowen increased their price target on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Barclays lifted their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Citigroup restated a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Two investment 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 stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $121.17.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 6,952 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dennis Howard sold 28,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the transaction, the insider owned 10,470 shares of the company’s stock, valued at $1,099,454.70. This trade represents a 72.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 395,786 shares of company stock worth $41,346,459 over the last 90 days. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Up 0.9%

Shares of NYSE SCHW opened at $111.03 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.62 and a debt-to-equity ratio of 0.52. The company has a market cap of $192.01 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.85 and a beta of 0.76. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $111.18. The stock has a 50-day moving average price of $99.40 and a two-hundred day moving average price of $95.89.

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

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio is currently 23.27%.

Charles Schwab Company 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.