M&T Bank Corp Sells 104,762 Shares of The Charles Schwab Co. (NYSE:SCHW)

M&T Bank Corp cut its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 23.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SCHW. Washington Trust Advisors Inc. lifted its stake in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the third quarter valued at approximately $25,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab during the 2nd quarter worth approximately $29,000. Finally, Prospera Private Wealth LLC bought a new stake in Charles Schwab in the 3rd quarter valued at $31,000. Institutional investors own 84.38% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SCHW. Barclays upgraded shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $74.00 to $95.00 in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their target price on Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Charles Schwab from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Hold" and an average price target of $80.50.

Charles Schwab Price Performance

NYSE:SCHW traded up $0.69 during trading hours on Friday, hitting $74.31. 12,219,728 shares of the company's stock traded hands, compared to its average volume of 8,085,971. The firm has a market cap of $132.25 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.76 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business's fifty day simple moving average is $76.77 and its two-hundred day simple moving average is $70.57. The Charles Schwab Co. has a 52 week low of $59.67 and a 52 week high of $83.35.

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

Charles Schwab Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is currently 39.06%.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company's stock, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company's stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,968 shares of company stock valued at $8,842,821. Insiders own 6.60% of the company's stock.

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.