Cullen Frost Bankers Inc. cut its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 465,417 shares of the financial services provider’s stock after selling 5,492 shares during the period. Cullen Frost Bankers Inc.’s holdings in The Charles Schwab Corporation were worth $19,995,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Beach Investment Management LLC. acquired a new position in shares of The Charles Schwab Corporation during the second quarter worth $250,000. Retirement Systems of Alabama raised its position in shares of The Charles Schwab Corporation by 0.5% in the second quarter. Retirement Systems of Alabama now owns 589,968 shares of the financial services provider’s stock worth $25,345,000 after buying an additional 2,745 shares in the last quarter. IFP Advisors Inc raised its position in shares of The Charles Schwab Corporation by 26.5% in the second quarter. IFP Advisors Inc now owns 7,749 shares of the financial services provider’s stock worth $333,000 after buying an additional 1,623 shares in the last quarter. Eagle Ridge Investment Management raised its position in shares of The Charles Schwab Corporation by 0.8% in the second quarter. Eagle Ridge Investment Management now owns 243,038 shares of the financial services provider’s stock worth $10,398,000 after buying an additional 1,905 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. raised its position in shares of The Charles Schwab Corporation by 0.9% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 6,770 shares of the financial services provider’s stock worth $291,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 79.45% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE SCHW) opened at 41.12 on Tuesday. The firm has a 50-day moving average price of $42.67 and a 200 day moving average price of $41.02. The Charles Schwab Corporation has a 12-month low of $29.86 and a 12-month high of $44.10. The stock has a market cap of $55.06 billion, a PE ratio of 27.60 and a beta of 1.63.

The Charles Schwab Corporation (NYSE:SCHW) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The firm 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 company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities research analysts expect that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders 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 dividend yield of 0.78%. The Charles Schwab Corporation’s dividend payout ratio is 21.48%.

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A number of brokerages have weighed in on SCHW. BidaskClub lowered The Charles Schwab Corporation from a “hold” rating to a “sell” rating in a research note on Monday. Morgan Stanley restated an “overweight” rating and issued a $51.00 target price (up from $48.00) on shares of The Charles Schwab Corporation in a research note on Tuesday, July 25th. Nomura lowered The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 24th. Instinet reiterated a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. Finally, Argus reiterated a “buy” rating and set a $48.00 price objective (up from $46.00) on shares of The Charles Schwab Corporation in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $44.00.

In other news, Chairman Charles R. Schwab sold 290,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $43.27, for a total transaction of $12,548,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $293,803.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 924,122 shares of company stock worth $39,694,987. Insiders own 12.00% of the company’s stock.

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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