M&T Bank Corp Has $19.68 Million Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

M&T Bank Corp reduced its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 12.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,437 shares of the financial services provider's stock after selling 36,646 shares during the quarter. M&T Bank Corp's holdings in Charles Schwab were worth $19,682,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Brighton Jones LLC raised its position in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after acquiring an additional 19,195 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Charles Schwab in the fourth quarter worth $441,000. AlphaQuest LLC raised its position in Charles Schwab by 81.0% in the fourth quarter. AlphaQuest LLC now owns 7,531 shares of the financial services provider's stock worth $557,000 after acquiring an additional 3,370 shares in the last quarter. Simplicity Wealth LLC raised its position in Charles Schwab by 40.6% in the fourth quarter. Simplicity Wealth LLC now owns 5,072 shares of the financial services provider's stock worth $375,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Charles Schwab by 14.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 618,033 shares of the financial services provider's stock worth $45,741,000 after acquiring an additional 76,954 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of SCHW stock traded up $0.94 on Thursday, hitting $93.26. 2,256,284 shares of the stock traded hands, compared to its average volume of 9,546,910. The company has a market capitalization of $169.44 billion, a PE ratio of 28.27, a PEG ratio of 0.98 and a beta of 0.93. The company's fifty day moving average is $88.12 and its 200 day moving average is $81.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $93.35.

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

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SCHW shares. Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Citigroup lifted their price objective on Charles Schwab from $102.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler lifted their price objective on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Finally, JMP Securities reiterated a "market outperform" rating and set a $94.00 price objective on shares of Charles Schwab in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $90.85.

Insider Buying and Selling

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the transaction, the director directly owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $1,878,688.72. Following the transaction, the insider owned 58,999 shares of the company's stock, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,905 shares of company stock worth $10,530,833. 6.30% of the stock is currently owned by company insiders.

Charles Schwab 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.