Sandy Spring Bank lowered its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,806 shares of the financial services provider’s stock after selling 2,305 shares during the period. Sandy Spring Bank’s holdings in Charles Schwab were worth $6,543,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Comerica Securities Inc. grew its holdings in Charles Schwab by 5.4% during the fourth quarter. Comerica Securities Inc. now owns 40,063 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 2,065 shares during the period. Dimensional Fund Advisors LP grew its holdings in Charles Schwab by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,723,959 shares of the financial services provider’s stock worth $113,124,000 after acquiring an additional 76,982 shares during the period. Geode Capital Management LLC grew its holdings in Charles Schwab by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock worth $564,801,000 after acquiring an additional 758,069 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Charles Schwab during the first quarter worth about $375,000. Finally, Virtu Financial LLC acquired a new position in Charles Schwab during the first quarter worth about $828,000. Hedge funds and other institutional investors own 79.36% of the company’s stock.

SCHW traded down $0.84 during trading on Wednesday, reaching $36.84. The company had a trading volume of 705,804 shares, compared to its average volume of 7,810,623. The company has a 50-day moving average of $40.73. The firm has a market capitalization of $49.39 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25. Charles Schwab Co. has a 12-month low of $36.01 and a 12-month high of $52.70. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. Charles Schwab’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Analysts anticipate that Charles Schwab Co. will post 2.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.17 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.85%. Charles Schwab’s dividend payout ratio is currently 27.76%.

In other Charles Schwab news, Director Stephen T. Mclin sold 4,356 shares of Charles Schwab stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $43.85, for a total transaction of $191,010.60. Following the transaction, the director now owns 7,592 shares of the company’s stock, valued at approximately $332,909.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.

A number of research analysts recently issued reports on SCHW shares. Citigroup lowered their target price on Charles Schwab from $43.50 to $39.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods lowered Charles Schwab from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $43.50 in a report on Friday, July 12th. JPMorgan Chase & Co. set a $44.00 target price on Charles Schwab and gave the stock a “buy” rating in a report on Friday, June 21st. Deutsche Bank cut Charles Schwab from a “buy” rating to a “hold” rating and dropped their price target for the stock from $52.00 to $43.00 in a research note on Tuesday, June 18th. Finally, ValuEngine cut Charles Schwab from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $47.80.

Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

Recommended Story: Trading on Margin

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

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.