The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by Eastern Bank

Eastern Bank increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 211,338 shares of the financial services provider’s stock after buying an additional 1,991 shares during the period. Eastern Bank’s holdings in The Charles Schwab Corporation were worth $9,080,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SCHW. Parametrica Management Ltd bought a new stake in shares of The Charles Schwab Corporation during the first quarter worth approximately $379,000. Inverness Counsel LLC NY raised its stake in shares of The Charles Schwab Corporation by 28.8% in the first quarter. Inverness Counsel LLC NY now owns 602,246 shares of the financial services provider’s stock worth $23,126,000 after buying an additional 134,690 shares during the period. TNB Financial purchased a new stake in shares of The Charles Schwab Corporation during the first quarter worth approximately $7,276,000. Bremer Trust National Association raised its stake in shares of The Charles Schwab Corporation by 4.7% in the first quarter. Bremer Trust National Association now owns 21,223 shares of the financial services provider’s stock worth $866,000 after buying an additional 961 shares during the period. Finally, Grassi Investment Management raised its stake in shares of The Charles Schwab Corporation by 45.3% in the first quarter. Grassi Investment Management now owns 44,608 shares of the financial services provider’s stock worth $1,820,000 after buying an additional 13,900 shares during the period. 79.45% of the stock is owned by institutional investors and hedge funds.

Shares of The Charles Schwab Corporation (NYSE:SCHW) traded down 0.40% during mid-day trading on Friday, reaching $39.51. The company’s stock had a trading volume of 6,571,943 shares. The company’s 50-day moving average is $42.40 and its 200 day moving average is $40.98. The firm has a market cap of $52.91 billion, a price-to-earnings ratio of 26.52 and a beta of 1.63. The Charles Schwab Corporation has a 12 month low of $29.86 and a 12 month high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, equities analysts anticipate that The Charles Schwab Corporation will post $1.61 EPS for the current year.

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

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SCHW has been the topic of several research analyst reports. William Blair restated an “outperform” rating on shares of The Charles Schwab Corporation in a research note on Friday, June 16th. Deutsche Bank AG reduced their price target on The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. BidaskClub downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Citigroup Inc. initiated coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 target price on the stock. Finally, Rosenblatt Securities initiated coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $44.00.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 26,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $42.80, for a total value of $1,112,800.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Terri R. Kallsen sold 10,536 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $43.15, for a total transaction of $454,628.40. Following the completion of the sale, the executive vice president now owns 5,212 shares in the company, valued at approximately $224,897.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 924,122 shares of company stock valued at $39,694,987. 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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