The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 12.7% in the first quarter, according to its most recent filing 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.

A number of other large investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Charles Schwab during the 4th quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Charles Schwab by 354.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC raised its holdings in shares of Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after acquiring an additional 3,974,940 shares during the period. Marshall Wace LLP raised its holdings in shares of Charles Schwab by 742.0% during the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after acquiring an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA raised its holdings in shares of Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after acquiring an additional 3,216,000 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 10,129 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director owned 105,654 shares in the company, valued at approximately $9,303,891.24. The trade was a 7.57% 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. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 1.2%

NYSE SCHW traded down $1.08 during trading hours on Friday, hitting $91.96. 6,814,781 shares of the company's stock were exchanged, compared to its average volume of 9,572,485. The business's 50 day moving average is $88.35 and its 200-day moving average is $81.29. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $93.35. The firm has a market capitalization of $167.09 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 0.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current 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 earnings per share for the quarter, topping 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 firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analyst Upgrades and Downgrades

SCHW has been the topic of several research analyst reports. Raymond James Financial boosted their price objective on shares of Charles Schwab from $91.00 to $99.00 and gave the company an "outperform" rating in a report on Wednesday. UBS Group boosted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Morgan Stanley boosted their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Truist Financial lifted their target price on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Piper Sandler lifted their target price on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Two 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. According to MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average price target of $92.70.

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.