Oak Associates Ltd. OH Trims Holdings in Charles Schwab Co. (SCHW)

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Oak Associates Ltd. OH cut its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,085,822 shares of the financial services provider’s stock after selling 9,521 shares during the quarter. Charles Schwab accounts for about 2.8% of Oak Associates Ltd. OH’s portfolio, making the stock its 7th largest holding. Oak Associates Ltd. OH’s holdings in Charles Schwab were worth $46,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new position in shares of Charles Schwab during the 4th quarter valued at approximately $31,000. Quantamental Technologies LLC purchased a new position in shares of Charles Schwab during the 1st quarter valued at approximately $32,000. First Personal Financial Services increased its holdings in Charles Schwab by 51.9% in the 4th quarter. First Personal Financial Services now owns 825 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 282 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Charles Schwab by 70.2% in the 4th quarter. Proficio Capital Partners LLC now owns 1,028 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 424 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its holdings 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 acquiring an additional 756 shares in the last quarter. 78.97% of the stock is owned by institutional investors.

Shares of NYSE:SCHW opened at $43.25 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $57.74 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. Charles Schwab Co. has a 1 year low of $37.83 and a 1 year high of $59.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.67 billion. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts anticipate that Charles Schwab Co. will post 2.77 EPS for the current fiscal year.

Charles Schwab announced that its board has authorized a share buyback program on Wednesday, January 30th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.57%. Charles Schwab’s dividend payout ratio (DPR) is presently 27.76%.

In related news, Director Stephen T. Mclin sold 4,356 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $43.85, for a total transaction of $191,010.60. Following the sale, the director now directly owns 7,592 shares in the company, valued at $332,909.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles A. Ruffel bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $46.10 per share, for a total transaction of $115,250.00. Following the completion of the purchase, the director now directly owns 788 shares of the company’s stock, valued at approximately $36,326.80. The disclosure for this purchase can be found here. Insiders have sold 944,253 shares of company stock worth $43,146,209 over the last quarter. Insiders own 10.90% of the company’s stock.

Several brokerages have recently weighed in on SCHW. UBS Group cut shares of Charles Schwab from a “neutral” rating to a “sell” rating and lowered their price target for the company from $48.00 to $42.00 in a research report on Wednesday, February 20th. Wells Fargo & Co lowered their price target on shares of Charles Schwab from $48.00 to $47.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. ValuEngine cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Zacks Investment Research cut shares of Charles Schwab from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Bank of America set a $50.00 target price on shares of Charles Schwab and gave the company a “buy” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. Charles Schwab presently has an average rating of “Buy” and an average price target of $53.22.

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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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