M&T Bank Corp Sells 51,819 Shares of The Charles Schwab Co. (NYSE:SCHW)

M&T Bank Corp reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 15.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 288,083 shares of the financial services provider's stock after selling 51,819 shares during the quarter. M&T Bank Corp's holdings in Charles Schwab were worth $21,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the 3rd quarter worth about $25,000. Washington Trust Advisors Inc. grew its position 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 worth $25,000 after buying an additional 149 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Charles Schwab during the 3rd quarter worth about $31,000. Planning Capital Management Corp acquired a new position in shares of Charles Schwab during the 3rd quarter worth about $33,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Charles Schwab during the 3rd quarter worth about $35,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Down 1.3 %

Shares of Charles Schwab stock traded down $0.99 on Friday, reaching $74.58. 12,013,673 shares of the company were exchanged, compared to its average volume of 12,083,828. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The company has a market capitalization of $135.25 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.99 and a beta of 0.98. 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 company has a 50-day moving average of $78.50 and a 200 day moving average of $73.92.

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Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio is 36.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research report on Friday, January 17th. Jefferies Financial Group boosted their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Morgan Stanley boosted their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Finally, Citigroup boosted their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of "Hold" and an average target price of $86.33.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company's stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the transaction, the insider now owns 57,818 shares of the company's stock, valued at $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 501,087 shares of company stock worth $40,952,233. Company insiders own 6.60% of the company's stock.

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.