CIBC Asset Management Inc lowered its position in The Charles Schwab Corporation (NYSE:SCHW) by 10.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 126,395 shares of the financial services provider’s stock after selling 14,169 shares during the period. CIBC Asset Management Inc’s holdings in The Charles Schwab Corporation were worth $5,430,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. WealthTrust Arizona LLC boosted its position 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 period. Pinnacle Bank acquired a new position in shares of The Charles Schwab Corporation during the first quarter valued at about $119,000. First Bank & Trust boosted its position 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 period. YorkBridge Wealth Partners LLC boosted its position 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 period. Finally, Quadrant Capital Group LLC boosted its position 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 period. Institutional investors and hedge funds own 79.41% of the company’s stock.

The Charles Schwab Corporation (SCHW) opened at 40.61 on Friday. The company’s 50-day moving average is $42.71 and its 200 day moving average is $41.04. The Charles Schwab Corporation has a 52 week low of $29.23 and a 52 week high of $44.10. The company has a market capitalization of $54.38 billion, a price-to-earnings ratio of 27.26 and a beta of 1.63.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data 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 business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. On average, analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Wednesday, August 9th. The Charles Schwab Corporation’s payout ratio is currently 21.48%.

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Several equities analysts have issued reports on the stock. Citigroup Inc. assumed coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target for the company. Instinet restated a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. Rosenblatt Securities assumed coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target for the company. Argus restated a “buy” rating and issued a $48.00 price target (up from $46.00) on shares of The Charles Schwab Corporation in a research report on Friday, July 21st. Finally, Deutsche Bank AG cut shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating and upped their price target for the company from $40.00 to $43.00 in a research report on Tuesday, July 11th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The Charles Schwab Corporation has an average rating of “Buy” and a consensus target price of $44.00.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 26,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $42.80, for a total transaction of $1,112,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marie A. Chandoha sold 7,002 shares of the business’s stock in a transaction 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. Over the last three months, insiders have sold 924,122 shares of company stock worth $39,694,987. 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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