The Charles Schwab Corporation (SCHW) Holdings Boosted by M&T Bank Corp
M&T Bank Corp grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 194,949 shares of the financial services provider’s stock after purchasing an additional 1,403 shares during the quarter. M&T Bank Corp’s holdings in The Charles Schwab Corporation were worth $8,376,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. WealthTrust Arizona LLC boosted its stake 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 worth $106,000 after purchasing an additional 29 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake 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 worth $131,000 after purchasing an additional 287 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in The Charles Schwab Corporation in the second quarter worth $145,000. Founders Capital Management acquired a new position in The Charles Schwab Corporation in the first quarter worth $159,000. Finally, Fiduciary Trust Co. acquired a new position in The Charles Schwab Corporation in the second quarter worth $163,000. 79.53% of the stock is currently owned by institutional investors.
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In other news, EVP Terri R. Kallsen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total value of $38,990.00. Following the transaction, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at approximately $203,215.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marie A. Chandoha sold 7,002 shares of the business’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 disclosure for this sale can be found here. Insiders have sold a total of 925,122 shares of company stock worth $39,733,977 over the last ninety days. Company insiders own 12.00% of the company’s stock.
Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 42.54 on Friday. The company has a 50-day moving average price of $40.42 and a 200-day moving average price of $40.76. The company has a market cap of $56.97 billion, a P/E ratio of 28.55 and a beta of 1.64. The Charles Schwab Corporation has a 12-month low of $29.86 and a 12-month high of $44.10.
The Charles Schwab Corporation (NYSE:SCHW) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. On average, analysts predict that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, August 9th. The Charles Schwab Corporation’s payout ratio is presently 21.48%.
SCHW has been the topic of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of The Charles Schwab Corporation in a research note on Friday, June 16th. Deutsche Bank AG reduced their price objective on 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. BidaskClub lowered The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 price target on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Finally, Citigroup Inc. began coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.47.
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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