Eagle Ridge Investment Management Reduces Stake in Charles Schwab Co. (NYSE:SCHW)

Eagle Ridge Investment Management trimmed its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,156 shares of the financial services provider’s stock after selling 8,551 shares during the period. Charles Schwab comprises about 2.4% of Eagle Ridge Investment Management’s portfolio, making the stock its 7th largest position. Eagle Ridge Investment Management’s holdings in Charles Schwab were worth $16,765,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SCHW. FNY Investment Advisers LLC boosted its stake in Charles Schwab by 133.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Charles Schwab in the 1st quarter worth approximately $32,000. Berman Capital Advisors LLC boosted its stake in Charles Schwab by 260.7% in the 1st quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 756 shares in the last quarter. Spectrum Management Group Inc. boosted its stake in Charles Schwab by 44.5% in the 1st quarter. Spectrum Management Group Inc. now owns 1,071 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 330 shares in the last quarter. Finally, First PREMIER Bank acquired a new stake in Charles Schwab in the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.36% of the company’s stock.

In other Charles Schwab news, Director Mark A. Goldfarb bought 2,595 shares of the stock in a transaction on Monday, August 5th. The shares were bought at an average price of $38.68 per share, with a total value of $100,374.60. Following the purchase, the director now directly owns 3,771 shares in the company, valued at approximately $145,862.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction on Monday, July 15th. The stock was sold at an average price of $40.20, for a total transaction of $150,348.00. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.

Charles Schwab stock traded down $0.01 during trading on Thursday, reaching $36.58. The company had a trading volume of 456,125 shares, compared to its average volume of 11,679,654. The company has a 50-day moving average of $40.68. Charles Schwab Co. has a 1-year low of $36.01 and a 1-year high of $52.70. The company has a market capitalization of $47.59 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts expect that Charles Schwab Co. will post 2.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.86%. Charles Schwab’s dividend payout ratio (DPR) is presently 27.76%.

A number of analysts recently commented on SCHW shares. Deutsche Bank cut shares of Charles Schwab from a “buy” rating to a “hold” rating and lowered their target price for the stock from $52.00 to $43.00 in a research note on Tuesday, June 18th. Wells Fargo & Co raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, July 22nd. Argus reissued a “buy” rating and set a $52.00 price target (down from $57.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $43.50 in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. set a $44.00 price target on shares of Charles Schwab and gave the stock a “buy” rating in a research report on Friday, June 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $47.80.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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

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