M&T Bank Corp Reduces Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

M&T Bank Corp lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 15.2% during the fourth quarter, Holdings Channel reports. The firm owned 288,083 shares of the financial services provider’s stock after selling 51,819 shares during the period. M&T Bank Corp’s holdings in Charles Schwab were worth $21,321,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SCHW. Washington Trust Advisors Inc. grew its stake in 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 last quarter. Capital Performance Advisors LLP purchased a new stake in Charles Schwab in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab during the third quarter worth approximately $31,000. Planning Capital Management Corp acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $33,000. Finally, Peterson Financial Group Inc. purchased a new stake in Charles Schwab in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction on 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 sale, the insider now owns 57,818 shares in the company, 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. Insiders sold 491,200 shares of company stock valued at $40,206,950 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SCHW shares. Morgan Stanley lifted their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Piper Sandler boosted their price target on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Redburn Partners decreased their price objective 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. Truist Financial boosted their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods increased their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Up 2.3 %

Shares of NYSE SCHW opened at $76.88 on Thursday. 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 firm has a 50-day moving average price of $78.49 and a 200 day moving average price of $73.85. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The stock has a market capitalization of $139.42 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $5.19 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

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.