Palisade Asset Management LLC Continues to Hold Stake in The Charles Schwab Corporation (SCHW)

Palisade Asset Management LLC maintained its position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, Holdings Channel reports. The institutional investor owned 6,950 shares of the financial services provider’s stock at the end of the second quarter. Palisade Asset Management LLC’s holdings in The Charles Schwab Corporation were worth $299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SCHW. SeaBridge Investment Advisors LLC increased its position in shares of The Charles Schwab Corporation by 12.6% in the first quarter. SeaBridge Investment Advisors LLC now owns 87,780 shares of the financial services provider’s stock valued at $3,582,000 after buying an additional 9,845 shares in the last quarter. Telemus Capital LLC acquired a new position in shares of The Charles Schwab Corporation during the first quarter valued at approximately $226,000. Private Wealth Partners LLC increased its position in shares of The Charles Schwab Corporation by 8.9% in the first quarter. Private Wealth Partners LLC now owns 69,927 shares of the financial services provider’s stock valued at $2,854,000 after buying an additional 5,687 shares in the last quarter. DnB Asset Management AS increased its position in shares of The Charles Schwab Corporation by 2.6% in the first quarter. DnB Asset Management AS now owns 280,370 shares of the financial services provider’s stock valued at $11,442,000 after buying an additional 7,100 shares in the last quarter. Finally, Bank of The West acquired a new position in shares of The Charles Schwab Corporation during the first quarter valued at approximately $1,975,000. 79.45% of the stock is currently owned by institutional investors.

Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 39.67 on Friday. The firm has a market cap of $53.12 billion, a price-to-earnings ratio of 26.62 and a beta of 1.63. The company has a 50-day moving average price of $42.50 and a 200 day moving average price of $41.00. The Charles Schwab Corporation has a 52 week low of $29.86 and a 52 week high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $0.30 EPS. The company’s revenue was up 16.5% on a year-over-year basis. Analysts expect that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.

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Several research analysts have commented on SCHW shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $43.00 price target (down from $45.00) on shares of The Charles Schwab Corporation in a research report on Saturday, April 22nd. Deutsche Bank AG decreased their price objective on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, April 24th. Jefferies Group LLC lifted their price objective on The Charles Schwab Corporation from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Wells Fargo & Company reissued a “market perform” rating and set a $44.00 price objective (up previously from $42.00) on shares of The Charles Schwab Corporation in a report on Monday, June 12th. Finally, BidaskClub raised The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The Charles Schwab Corporation presently has a consensus rating of “Buy” and a consensus target price of $44.00.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 290,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $43.27, for a total transaction of $12,548,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marie A. Chandoha sold 9,705 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.17, for a total value of $418,964.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 924,122 shares of company stock worth $39,694,987. Corporate insiders own 12.00% of the company’s stock.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation (CSC) 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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Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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