M&T Bank Corp Has $22.03 Million Position in The Charles Schwab Co. (NYSE:SCHW)

M&T Bank Corp lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 23.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 339,902 shares of the financial services provider’s stock after selling 104,762 shares during the period. M&T Bank Corp’s holdings in Charles Schwab were worth $22,029,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Alliance Wealth Advisors LLC boosted its stake in shares of Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after buying an additional 142 shares during the period. GS Investments Inc. boosted its stake in shares of Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after buying an additional 146 shares during the period. Washington Trust Advisors Inc. boosted its stake in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Arcataur Capital Management LLC boosted its stake in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after buying an additional 150 shares during the period. Finally, Tandem Capital Management Corp ADV boosted its stake in shares of Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SCHW. Jefferies Financial Group raised their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. JMP Securities reiterated a “market outperform” rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a report on Monday. Finally, Bank of America dropped their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.81.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,968 shares of company stock worth $9,419,271. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $82.35 on Wednesday. The firm’s 50-day moving average is $74.41 and its 200-day moving average is $70.16. The Charles Schwab Co. has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $146.56 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.77 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

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.