Bank of New York Mellon Corp reduced its position in The Charles Schwab Corporation (NYSE:SCHW) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,710,308 shares of the financial services provider’s stock after selling 562,222 shares during the period. Bank of New York Mellon Corp owned about 1.03% of The Charles Schwab Corporation worth $588,995,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Korea Investment CORP raised its position in The Charles Schwab Corporation by 2.7% in the first quarter. Korea Investment CORP now owns 653,767 shares of the financial services provider’s stock worth $26,680,000 after buying an additional 17,463 shares in the last quarter. IFC Holdings Incorporated FL raised its position in The Charles Schwab Corporation by 7.8% in the first quarter. IFC Holdings Incorporated FL now owns 58,854 shares of the financial services provider’s stock worth $2,396,000 after buying an additional 4,247 shares in the last quarter. First Manhattan Co. raised its position in The Charles Schwab Corporation by 395.9% in the first quarter. First Manhattan Co. now owns 1,252,265 shares of the financial services provider’s stock worth $39,534,000 after buying an additional 999,750 shares in the last quarter. Waldron LP raised its position in The Charles Schwab Corporation by 23.9% in the first quarter. Waldron LP now owns 9,339 shares of the financial services provider’s stock worth $381,000 after buying an additional 1,799 shares in the last quarter. Finally, Taylor Wealth Management Partners raised its position in The Charles Schwab Corporation by 7.4% in the first quarter. Taylor Wealth Management Partners now owns 57,815 shares of the financial services provider’s stock worth $2,359,000 after buying an additional 3,965 shares in the last quarter. 79.45% of the stock is currently owned by institutional investors.

Shares of The Charles Schwab Corporation (NYSE SCHW) opened at 39.27 on Tuesday. The Charles Schwab Corporation has a one year low of $29.86 and a one year high of $44.10. The company has a market capitalization of $52.59 billion, a P/E ratio of 26.36 and a beta of 1.63. The firm has a 50 day moving average price of $42.29 and a 200 day moving average price of $40.97.

The Charles Schwab Corporation (NYSE:SCHW) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. On average, equities research analysts predict that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, August 9th. The Charles Schwab Corporation’s payout ratio is presently 21.48%.

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SCHW has been the topic of several research reports. Deutsche Bank AG lowered The Charles Schwab Corporation from a “buy” rating to a “hold” rating and upped their price target for the company from $40.00 to $43.00 in a research note on Tuesday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $48.00 price target (up previously from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Rosenblatt Securities initiated coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. Citigroup Inc. initiated coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. Finally, BidaskClub lowered The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The Charles Schwab Corporation currently has a consensus rating of “Buy” and an average price target of $44.00.

In other news, insider Marie A. Chandoha sold 7,002 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $41.96, for a total value of $293,803.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph R. Martinetto sold 115,642 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 210,868 shares in the company, valued at $8,877,542.80. The disclosure for this sale can be found here. Insiders have sold a total of 924,122 shares of company stock worth $39,694,987 over the last ninety days. Company insiders own 12.00% of the company’s stock.

About The Charles Schwab Corporation

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.

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

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