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

M&T Bank Corp cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 23.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 and hedge funds also recently bought and sold shares of SCHW. Washington Trust Advisors Inc. grew its position in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock worth $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab during the third quarter worth about $25,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the second quarter worth about $27,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab during the second quarter worth about $29,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Charles Schwab during the third quarter worth about $31,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.09 during trading hours on Wednesday, hitting $82.41. 6,323,295 shares of the company were exchanged, compared to its average volume of 7,994,899. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $74.78 and a 200-day moving average of $70.23. The stock has a market capitalization of $146.66 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.77 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab's payout ratio is 39.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SCHW shares. Citigroup lowered their price target on Charles Schwab from $75.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $77.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 11th. Piper Sandler upped their price target on Charles Schwab from $64.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. StockNews.com raised Charles Schwab from a "sell" rating to a "hold" rating in a report on Wednesday, October 16th. Finally, Raymond James lowered their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of "Hold" and a consensus target price of $78.81.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now owns 18,069 shares of the company's stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is owned by corporate insiders.

About Charles Schwab

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.