Cornerstone Advisors Inc. reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,357 shares of the financial services provider’s stock after selling 294 shares during the period. Cornerstone Advisors Inc.’s holdings in The Charles Schwab Corporation were worth $187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. WealthTrust Arizona LLC boosted its position in The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares during the last quarter. Pinnacle Bank purchased a new position in The Charles Schwab Corporation during the first quarter worth approximately $119,000. First Bank & Trust boosted its position in The Charles Schwab Corporation by 3.6% in the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in The Charles Schwab Corporation by 9.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after buying an additional 287 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock worth $133,000 after buying an additional 207 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.

The Charles Schwab Corporation (NYSE SCHW) traded up 0.54% during mid-day trading on Friday, reaching $43.11. The company’s stock had a trading volume of 4,507,607 shares. The company has a market capitalization of $57.68 billion, a price-to-earnings ratio of 28.93 and a beta of 1.63. The Charles Schwab Corporation has a one year low of $27.87 and a one year high of $44.10. The stock has a 50-day moving average price of $42.64 and a 200-day moving average price of $40.97.

The Charles Schwab Corporation (NYSE:SCHW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.74%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is 21.48%.

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A number of research analysts have recently commented on the company. Instinet restated a “conviction-buy” rating and issued a $46.00 target price (up previously from $44.00) on shares of The Charles Schwab Corporation in a research note on Friday, April 14th. Jefferies Group LLC restated a “buy” rating and issued a $48.00 target price on shares of The Charles Schwab Corporation in a research note on Wednesday, May 31st. BidaskClub upgraded The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Morgan Stanley restated an “overweight” rating and issued a $48.00 target price (up previously from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $44.00 target price (up previously from $42.00) on shares of The Charles Schwab Corporation in a research note on Monday, June 12th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The Charles Schwab Corporation has a consensus rating of “Buy” and a consensus price target of $44.00.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 290,000 shares of The Charles Schwab Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $43.27, for a total transaction of $12,548,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph R. Martinetto sold 115,642 shares of The Charles Schwab Corporation stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $42.10, for a total value of $4,868,528.20. Following the transaction, the executive vice president now owns 210,868 shares of the company’s stock, valued at approximately $8,877,542.80. The disclosure for this sale can be found here. Insiders sold a total of 893,913 shares of company stock valued at $38,402,586 in the last 90 days. 12.00% of the stock is currently owned by company insiders.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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