Spinnaker Trust boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.1% during the second quarter, Holdings Channel reports. The fund owned 68,390 shares of the financial services provider’s stock after buying an additional 3,937 shares during the period. Spinnaker Trust’s holdings in The Charles Schwab Corporation were worth $2,938,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. WealthTrust Arizona LLC raised its stake in shares of 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. Pinnacle Bank purchased a new stake in shares of The Charles Schwab Corporation during the first quarter valued at approximately $119,000. First Bank & Trust raised its stake in shares of The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock valued at $128,000 after buying an additional 109 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock valued at $131,000 after buying an additional 287 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock valued at $133,000 after buying an additional 207 shares during the last quarter. Institutional investors own 79.41% of the company’s stock.

The Charles Schwab Corporation (SCHW) opened at 42.02 on Thursday. The Charles Schwab Corporation has a 52-week low of $29.23 and a 52-week high of $44.10. The firm has a market cap of $56.22 billion, a price-to-earnings ratio of 28.20 and a beta of 1.63. The firm has a 50-day moving average of $42.74 and a 200 day moving average of $41.05.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, 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. Stockholders of record on Friday, August 11th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.

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SCHW has been the topic of a number of research analyst reports. Deutsche Bank AG lowered their price objective on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $46.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday, June 16th. BidaskClub upgraded shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price objective on shares of The Charles Schwab Corporation in a research note on Wednesday, May 31st. Finally, Citigroup Inc. reiterated a “buy” rating and set a $43.00 price objective (down previously from $45.00) on shares of The Charles Schwab Corporation in a research note on Saturday, April 22nd. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The Charles Schwab Corporation currently has an average rating of “Buy” and an average target price of $44.00.

In related news, EVP Terri R. Kallsen sold 2,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $43.07, for a total transaction of $86,140.00. Following the completion of the transaction, the executive vice president now owns 5,212 shares in the company, valued at $224,480.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marie A. Chandoha sold 7,002 shares of the stock in a transaction on Wednesday, August 9th. The stock was 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 sold 924,122 shares of company stock valued at $39,694,987 in the last quarter. 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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