The Charles Schwab Corp. (SCHW) Short Interest Up 19.5% in August

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The Charles Schwab Corp. (NYSE:SCHW) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 24,279,074 shares, a growth of 19.5% from the August 15th total of 20,310,268 shares. Based on an average daily volume of 6,678,568 shares, the short-interest ratio is currently 3.6 days. Currently, 2.1% of the shares of the company are sold short.
The Charles Schwab Corp. (NYSE:SCHW) opened at 30.53 on Friday. The firm has a market cap of $40.39 billion, a PE ratio of 26.32 and a beta of 1.52. The Charles Schwab Corp. has a 12 month low of $21.51 and a 12 month high of $34.52. The stock’s 50 day moving average is $30.03 and its 200 day moving average is $28.45.
The Charles Schwab Corp. (NYSE:SCHW) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The Charles Schwab Corp. had a return on equity of 13.03% and a net margin of 24.07%. The firm earned $1.83 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts forecast that The Charles Schwab Corp. will post $1.26 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, August 10th. The Charles Schwab Corp.’s dividend payout ratio is presently 24.35%.
A number of research firms recently commented on SCHW. Deutsche Bank AG lifted their target price on shares of The Charles Schwab Corp. from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Zacks Investment Research upgraded shares of The Charles Schwab Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Barclays PLC lifted their price objective on shares of The Charles Schwab Corp. from $29.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Jefferies Group restated a “buy” rating on shares of The Charles Schwab Corp. in a research note on Friday, August 5th. Finally, Citigroup Inc. lifted their price objective on shares of The Charles Schwab Corp. from $28.50 to $31.50 and gave the company a “neutral” rating in a research note on Monday, July 25th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $32.42.
In related news, EVP Terri R. Kallsen sold 6,894 shares of The Charles Schwab Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $28.01, for a total value of $193,100.94. Following the completion of the sale, the executive vice president now directly owns 17,822 shares in the company, valued at approximately $499,194.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nigel J. Murtagh sold 2,500 shares of The Charles Schwab Corp. stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $29.72, for a total transaction of $74,300.00. Following the completion of the sale, the executive vice president now owns 35,137 shares of the company’s stock, valued at $1,044,271.64. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Lenox Wealth Management Inc. increased its stake in shares of The Charles Schwab Corp. by 12.1% in the second quarter. Lenox Wealth Management Inc. now owns 4,126 shares of the company’s stock valued at $104,000 after buying an additional 445 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in shares of The Charles Schwab Corp. by 10.4% in the second quarter. Reilly Financial Advisors LLC now owns 4,248 shares of the company’s stock valued at $108,000 after buying an additional 400 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of The Charles Schwab Corp. by 33.9% in the second quarter. Integrated Investment Consultants LLC now owns 4,943 shares of the company’s stock valued at $125,000 after buying an additional 1,252 shares in the last quarter. Balentine LLC increased its stake in shares of The Charles Schwab Corp. by 6.3% in the second quarter. Balentine LLC now owns 7,311 shares of the company’s stock valued at $185,000 after buying an additional 436 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new stake in shares of The Charles Schwab Corp. during the second quarter valued at $203,000. 76.47% of the stock is owned by hedge funds and other institutional investors.
The Charles Schwab Corp. Company Profile
The Charles Schwab Corporation 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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