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

M&T Bank Corp lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 23.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Capital Performance Advisors LLP bought a new position in shares of Charles Schwab during the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. raised its stake in 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 acquiring an additional 149 shares in the last quarter. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the second quarter valued at $27,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at $29,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab in the 3rd quarter worth about $31,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SCHW shares. Barclays upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $74.00 to $95.00 in a research report on Monday, December 9th. Morgan Stanley boosted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Piper Sandler increased their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Charles Schwab from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and a consensus price target of $80.50.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This trade represents a 5.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,968 shares of company stock worth $8,842,821 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.9 %

Shares of NYSE SCHW opened at $74.31 on Friday. The Charles Schwab Co. has a fifty-two week low of $59.67 and a fifty-two week high of $83.35. The firm has a market capitalization 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 debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company’s 50 day simple moving average is $76.77 and its 200 day simple moving average is $70.57.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. On average, analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is presently 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.