Canandaigua National Bank & Trust Co. Makes New Investment in The Charles Schwab Corporation $SCHW

Canandaigua National Bank & Trust Co. purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,489 shares of the financial services provider’s stock, valued at approximately $2,721,000.

Several other hedge funds also recently made changes to their positions in SCHW. Norges Bank bought a new stake in shares of Charles Schwab in the fourth quarter worth $1,994,189,000. Bank of New York Mellon Corp grew its position in Charles Schwab by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after purchasing an additional 3,009,884 shares in the last quarter. Primecap Management Co. CA grew its position in Charles Schwab by 9.7% in the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after purchasing an additional 2,066,884 shares in the last quarter. Focus Partners Wealth increased its stake in Charles Schwab by 716.5% in the 4th quarter. Focus Partners Wealth now owns 2,101,463 shares of the financial services provider’s stock valued at $209,948,000 after buying an additional 1,844,095 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Charles Schwab in the 1st quarter valued at $129,140,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab News Roundup

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab’s latest quarterly results provided the primary catalyst: earnings per share of $1.62 exceeded the $1.56 consensus estimate, while revenue of $7.07 billion topped expectations of $6.90 billion. Revenue also grew sharply from the prior year, supporting optimism about continued operating momentum. Why Charles Schwab Stock Jumped in July
• Positive Sentiment: Compass Point upgraded Charles Schwab to “strong buy,” adding to bullish analyst sentiment. The firm also recently initiated coverage with a “buy” recommendation, potentially strengthening demand for the shares. Compass initiates coverage of Charles Schwab with Buy recommendation
• Positive Sentiment: Schwab’s third-quarter retail client sentiment report showed investors becoming notably more bullish on U.S. stocks. Stronger confidence could support trading activity and asset flows, although clients still expressed concern that the market may be overvalued. Schwab Q3 Retail Client Sentiment Report
• Positive Sentiment: Orion’s launch of fractional-share trading for advisors using Schwab Advisor Services should make portfolio implementation more efficient, reduce idle cash and improve the platform’s appeal to financial advisors. Orion Introduces Fractional Share Trading for Advisors Who Custody with Schwab Advisor Services
• Neutral Sentiment: Brokerages maintain a “moderate buy” average recommendation, but analysts remain only moderately optimistic after Schwab underperformed the broader market over the past year. Charles Schwab Receives Average Recommendation of Moderate Buy
• Neutral Sentiment: Schwab’s planned $11.7 million Scottsdale office renovation reflects ongoing investment in its operations but is unlikely to materially affect near-term earnings. Charles Schwab To Invest $11.7M In Scottsdale Office Renovations

Charles Schwab Trading Up 0.5%

Charles Schwab stock opened at $106.35 on Wednesday. The stock has a 50-day simple moving average of $95.98 and a 200 day simple moving average of $95.51. The stock has a market capitalization of $184.96 billion, a P/E ratio of 19.34, a PEG ratio of 0.81 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $107.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is currently 23.27%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Barclays lifted their target price on Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Zacks Research upgraded Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Finally, Compass Point initiated coverage on Charles Schwab in a research report on Monday. They set a “buy” rating and a $135.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.17.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $104.21, for a total value of $208,420.00. Following the transaction, the insider directly owned 11,738 shares of the company’s stock, valued at $1,223,216.98. This represents a 14.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 363,848 shares of company stock worth $37,874,706. 6.30% of the stock is currently owned by corporate insiders.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.