Lowe Brockenbrough & Co. Inc. raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 6,770 shares of the financial services provider’s stock after buying an additional 62 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in The Charles Schwab Corporation were worth $291,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. 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. Pinnacle Bank bought a new position in The Charles Schwab Corporation during the first quarter valued at $119,000. First Bank & Trust raised its position in 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 position in 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, FTB Advisors Inc. raised its position in The Charles Schwab Corporation by 365.8% in the first quarter. FTB Advisors Inc. now owns 3,852 shares of the financial services provider’s stock valued at $151,000 after buying an additional 3,025 shares during the last quarter. Institutional investors own 79.45% of the company’s stock.

The Charles Schwab Corporation (NYSE SCHW) opened at 41.12 on Tuesday. The firm has a market capitalization of $55.06 billion, a P/E ratio of 27.60 and a beta of 1.63. The firm’s 50-day moving average price is $42.67 and its 200 day moving average price is $41.02. The Charles Schwab Corporation has a one year low of $29.86 and a one year high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The Charles Schwab Corporation’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. On average, equities analysts anticipate that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. The Charles Schwab Corporation’s payout ratio is presently 21.48%.

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Several equities analysts have weighed in on SCHW shares. Citigroup Inc. reissued a “buy” rating and issued a $43.00 target price (down previously from $45.00) on shares of The Charles Schwab Corporation in a research note on Saturday, April 22nd. Deutsche Bank AG lowered their price target on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating for the company in a report on Monday, April 24th. Wells Fargo & Company restated a “market perform” rating and issued a $44.00 price target (up from $42.00) on shares of The Charles Schwab Corporation in a report on Monday, June 12th. Morgan Stanley restated an “overweight” rating and issued a $48.00 price target (up from $45.00) on shares of The Charles Schwab Corporation in a report on Monday, July 10th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $46.00 price target on shares of The Charles Schwab Corporation in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The Charles Schwab Corporation currently has an average rating of “Buy” and an average target price of $44.00.

In other The Charles Schwab Corporation news, insider Marie A. Chandoha sold 7,002 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $41.96, for a total value of $293,803.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 26,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $42.80, for a total transaction of $1,112,800.00. The disclosure for this sale can be found here. Insiders sold 924,122 shares of company stock worth $39,694,987 over the last three months. 12.00% of the stock is owned by insiders.

About The Charles Schwab Corporation

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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