M&T Bank Corp Sells 11,757 Shares of The Charles Schwab Corporation $SCHW

M&T Bank Corp trimmed its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,680 shares of the financial services provider’s stock after selling 11,757 shares during the period. M&T Bank Corp’s holdings in Charles Schwab were worth $21,868,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab during the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new stake in shares of Charles Schwab in the 2nd quarter valued at $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Charles Schwab during the second quarter worth $32,000. Hoese & Co LLP raised its stake in Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Finally, Evelyn Partners Asset Management Ltd acquired a new position in Charles Schwab in the second quarter valued at $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SCHW shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Cowen restated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. BMO Capital Markets initiated coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Price Performance

SCHW stock opened at $92.12 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The business has a 50-day simple moving average of $93.72 and a two-hundred day simple moving average of $93.08. The company has a market capitalization of $163.69 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is owned by company insiders.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.