Busey Trust CO raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1,429.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,352 shares of the financial services provider’s stock after buying an additional 130,241 shares during the period. Busey Trust CO’s holdings in The Charles Schwab Corporation were worth $5,987,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. WealthTrust Arizona LLC raised its position in The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after buying an additional 29 shares during the last quarter. Norway Savings Bank raised its position in The Charles Schwab Corporation by 0.7% in the second quarter. Norway Savings Bank now owns 9,583 shares of the financial services provider’s stock valued at $412,000 after buying an additional 63 shares during the last quarter. Atria Investments LLC raised its position in The Charles Schwab Corporation by 0.4% in the second quarter. Atria Investments LLC now owns 15,025 shares of the financial services provider’s stock valued at $645,000 after buying an additional 65 shares during the last quarter. Mitchell Sinkler & Starr PA raised its position in The Charles Schwab Corporation by 0.6% in the first quarter. Mitchell Sinkler & Starr PA now owns 11,960 shares of the financial services provider’s stock valued at $488,000 after buying an additional 70 shares during the last quarter. Finally, Guardian Life Insurance Co. of America raised its position in The Charles Schwab Corporation by 1.5% in the first quarter. Guardian Life Insurance Co. of America now owns 4,692 shares of the financial services provider’s stock valued at $191,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 79.41% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 40.65 on Friday. The Charles Schwab Corporation has a 52-week low of $29.83 and a 52-week high of $44.10. The firm has a 50-day moving average of $42.68 and a 200-day moving average of $41.04. The company has a market cap of $54.44 billion, a P/E ratio of 27.28 and a beta of 1.63.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The Charles Schwab Corporation’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The business also recently declared 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 is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. The Charles Schwab Corporation’s payout ratio is 21.48%.

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Several equities research analysts recently weighed in on the stock. Nomura downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 24th. BidaskClub raised shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Instinet reissued a “neutral” rating and set a $43.00 price target (down previously from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. Argus reissued a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of The Charles Schwab Corporation in a research report on Friday, July 21st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $48.00 price target on shares of The Charles Schwab Corporation in a research report on Wednesday, May 31st. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $44.00.

In other The Charles Schwab Corporation news, EVP Terri R. Kallsen sold 10,536 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total transaction of $454,628.40. Following the transaction, the executive vice president now owns 5,212 shares in the company, valued at approximately $224,897.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marie A. Chandoha sold 7,002 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.96, for a total transaction of $293,803.92. The disclosure for this sale can be found here. Insiders have sold a total of 924,122 shares of company stock worth $39,694,987 in the last 90 days. 12.00% of the stock is currently owned by company insiders.

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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