M&T Bank Corp Trims Holdings in The Charles Schwab Corporation (NYSE:SCHW)

M&T Bank Corp cut its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 251,437 shares of the financial services provider's stock after selling 36,646 shares during the period. M&T Bank Corp's holdings in Charles Schwab were worth $19,682,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HM Payson & Co. grew its holdings in Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after purchasing an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Charles Schwab by 2.1% during the 1st quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock valued at $513,000 after purchasing an additional 132 shares during the last quarter. Premier Path Wealth Partners LLC grew its holdings in Charles Schwab by 1.8% during the 1st quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 140 shares during the last quarter. Sutton Place Investors LLC grew its holdings in Charles Schwab by 1.6% during the 1st quarter. Sutton Place Investors LLC now owns 8,677 shares of the financial services provider's stock valued at $679,000 after purchasing an additional 140 shares during the last quarter. Finally, O ROURKE & COMPANY Inc grew its holdings in Charles Schwab by 1.1% during the 4th quarter. O ROURKE & COMPANY Inc now owns 12,958 shares of the financial services provider's stock valued at $959,000 after purchasing an additional 142 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded up $0.36 during midday trading on Wednesday, hitting $92.31. The company's stock had a trading volume of 6,139,737 shares, compared to its average volume of 9,556,327. The business's 50 day simple moving average is $87.91 and its 200 day simple moving average is $81.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market cap of $167.72 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $92.80.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of Charles Schwab stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the transaction, the insider directly owned 58,999 shares of the company's stock, valued at $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the transaction, the insider directly owned 39,154 shares in the company, valued at $3,524,251.54. This trade represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock valued at $10,530,833 over the last ninety days. Corporate insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research analyst reports. Cowen restated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Friday, April 25th. TD Securities upped their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. JMP Securities restated a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. Finally, Truist Financial upped their target price on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.85.

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.