Bank of New York Mellon Corp Buys 60,683 Shares of The Charles Schwab Co. (NYSE:SCHW)

Bank of New York Mellon Corp increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 10,438,852 shares of the financial services provider’s stock after buying an additional 60,683 shares during the quarter. Bank of New York Mellon Corp’s holdings in Charles Schwab were worth $772,579,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SCHW. Washington Trust Advisors Inc. grew its holdings in shares of 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 buying an additional 149 shares during the period. Capital Performance Advisors LLP bought a new position in Charles Schwab during the third quarter worth about $25,000. Prospera Private Wealth LLC acquired a new position in Charles Schwab in the third quarter valued at about $31,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Charles Schwab in the third quarter worth about $33,000. Finally, Planning Capital Management Corp acquired a new stake in shares of Charles Schwab during the third quarter worth about $33,000. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SCHW shares. Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Barclays upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.33.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 487,820 shares of company stock valued at $39,938,849 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Down 1.4 %

Shares of SCHW stock opened at $79.01 on Wednesday. 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 cap of $140.74 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 0.99 and a beta of 0.99. The firm’s 50-day moving average is $78.07 and its 200-day moving average is $73.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

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.