Bank of New York Mellon Corp Boosts Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Bank of New York Mellon Corp raised its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,056,953 shares of the financial services provider's stock after purchasing an additional 618,101 shares during the period. Bank of New York Mellon Corp owned about 0.61% of Charles Schwab worth $865,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC acquired a new position in shares of Charles Schwab during the 4th quarter valued at about $1,455,000. Banco Santander S.A. increased its stake in shares of Charles Schwab by 49.6% during the 4th quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock valued at $1,208,000 after acquiring an additional 5,413 shares during the last quarter. Graham Capital Management L.P. increased its stake in shares of Charles Schwab by 248.3% during the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after acquiring an additional 80,112 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Charles Schwab by 17.2% during the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after acquiring an additional 29,255 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Charles Schwab by 14.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 618,033 shares of the financial services provider's stock worth $45,741,000 after purchasing an additional 76,954 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of several recent research reports. UBS Group increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Morgan Stanley lifted their target price on Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Barclays decreased their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and raised their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

Insider Buying and Selling at Charles Schwab

In other news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the transaction, the director owned 105,654 shares in the company, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Insiders sold a total of 119,905 shares of company stock worth $10,530,833 in the last 90 days. Company insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 0.2%

Shares of Charles Schwab stock traded down $0.14 during trading hours on Friday, hitting $91.20. The company's stock had a trading volume of 5,765,549 shares, compared to its average volume of 9,572,077. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $92.15. The stock has a 50 day moving average of $87.44 and a 200 day moving average of $80.78. The company has a market capitalization of $165.71 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same quarter in the previous year, the business posted $0.74 EPS. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.18%. Charles Schwab's payout ratio is currently 32.73%.

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.