The Charles Schwab Corporation $SCHW Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,162,082 shares of the financial services provider’s stock after acquiring an additional 3,009,884 shares during the quarter. Bank of New York Mellon Corp’s holdings in Charles Schwab were worth $1,518,913,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SCHW. Dogwood Wealth Management LLC lifted its holdings in shares of Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 123 shares during the last quarter. Piscataqua Savings Bank acquired a new position in Charles Schwab during the fourth quarter worth $26,000. GoalVest Advisory LLC purchased a new position in shares of Charles Schwab during the fourth quarter worth $28,000. Beacon Financial Strategies CORP acquired a new stake in shares of Charles Schwab in the fourth quarter valued at $29,000. Finally, Optima Capital LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at $30,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider owned 13,738 shares in the company, valued at $1,373,937.38. This represents a 12.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total value of $228,312.00. Following the completion of the sale, the director directly owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,520 shares of company stock worth $622,392 over the last ninety days. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SCHW shares. Barclays decreased their target price on Charles Schwab from $127.00 to $122.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. UBS Group lifted their target price on Charles Schwab from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Argus set a $108.00 price target on shares of Charles Schwab in a research report on Monday, April 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.68.

Charles Schwab Stock Performance

Shares of SCHW opened at $102.80 on Thursday. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The stock has a market capitalization of $178.78 billion, a PE ratio of 20.40, a PEG ratio of 0.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50-day simple moving average of $92.24 and a 200-day simple moving average of $95.31.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.04. The business had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.39 billion. Charles Schwab had a net margin of 37.99% and a return on equity of 23.05%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. On average, analysts predict that The Charles Schwab Corporation will post 6.23 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.32 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 25.40%.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.