Janney Montgomery Scott LLC Acquires 27,103 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Janney Montgomery Scott LLC raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 143.8% during the second quarter, Holdings Channel reports. The firm owned 45,957 shares of the financial services provider’s stock after buying an additional 27,103 shares during the period. Janney Montgomery Scott LLC’s holdings in The Charles Schwab Corporation were worth $1,974,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SCHW. First Manhattan Co. boosted its stake in shares of 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 during the period. 1ST Source Bank boosted its stake in shares of The Charles Schwab Corporation by 65.7% in the first quarter. 1ST Source Bank now owns 52,583 shares of the financial services provider’s stock worth $2,146,000 after buying an additional 20,847 shares during the period. Bank of Montreal Can boosted its stake in shares of The Charles Schwab Corporation by 25.4% in the first quarter. Bank of Montreal Can now owns 1,125,778 shares of the financial services provider’s stock worth $45,943,000 after buying an additional 227,859 shares during the period. Reilly Financial Advisors LLC boosted its stake in shares of The Charles Schwab Corporation by 10.0% in the first quarter. Reilly Financial Advisors LLC now owns 4,571 shares of the financial services provider’s stock worth $187,000 after buying an additional 415 shares during the period. Finally, First Mercantile Trust Co. boosted its stake in shares of The Charles Schwab Corporation by 10.5% in the first quarter. First Mercantile Trust Co. now owns 78,728 shares of the financial services provider’s stock worth $3,213,000 after buying an additional 7,496 shares during the period. Institutional investors and hedge funds own 79.41% of the company’s stock.

The Charles Schwab Corporation (SCHW) opened at 42.02 on Thursday. The stock has a market cap of $56.22 billion, a price-to-earnings ratio of 28.20 and a beta of 1.63. The Charles Schwab Corporation has a 52 week low of $29.23 and a 52 week high of $44.10. The firm’s 50-day moving average is $42.76 and its 200 day moving average is $41.04.

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 Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts expect 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. Stockholders of record on Friday, August 11th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Wednesday, August 9th. The Charles Schwab Corporation’s payout ratio is currently 21.48%.

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SCHW has been the subject of a number of recent research reports. Citigroup Inc. reiterated a “buy” rating and issued a $43.00 target price (down from $45.00) on shares of The Charles Schwab Corporation in a research report on Saturday, April 22nd. Deutsche Bank AG reduced their target price on shares of The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, April 24th. Wells Fargo & Company reissued a “market perform” rating and issued a $44.00 price objective (up previously from $42.00) on shares of The Charles Schwab Corporation in a report on Monday, June 12th. Morgan Stanley reissued an “overweight” rating and issued a $48.00 price objective (up previously from $45.00) on shares of The Charles Schwab Corporation in a report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $46.00 price objective on shares of The Charles Schwab Corporation in a report on Friday, June 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The Charles Schwab Corporation has an average rating of “Buy” and an average target price of $44.00.

In other news, EVP Terri R. Kallsen sold 10,536 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Terri R. Kallsen sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $43.07, for a total value of $86,140.00. Following the sale, the executive vice president now owns 5,212 shares of the company’s stock, valued at approximately $224,480.84. The disclosure for this sale can be found here. Insiders have sold a total of 924,122 shares of company stock valued at $39,694,987 in the last quarter. 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.

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

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