Canandaigua National Bank & Trust Co. Invests $2.72 Million in The Charles Schwab Corporation $SCHW

Canandaigua National Bank & Trust Co. purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 29,489 shares of the financial services provider’s stock, valued at approximately $2,721,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC lifted its holdings in shares of Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after buying an additional 123 shares in the last quarter. Optima Capital LLC acquired a new position in shares of Charles Schwab in the fourth quarter valued at about $30,000. Scarborough Advisors LLC acquired a new position in shares of Charles Schwab in the first quarter valued at about $29,000. McIlrath & Eck LLC increased its position in Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 189 shares during the period. Finally, Main Street Group LTD bought a new position in Charles Schwab during the first quarter worth about $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Charles Schwab

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Compass Point initiated coverage on shares of Charles Schwab in a report on Monday. They set a “buy” rating and a $135.00 target price on the stock. TD Cowen lifted their price target on shares of Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods started coverage on Charles Schwab in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $110.00 price target for the company. Finally, Zacks Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Charles Schwab Trading Up 0.5%

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

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

Charles Schwab Announces Dividend

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

Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 6,952 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $104.21, for a total value of $208,420.00. Following the completion of the sale, the insider directly owned 11,738 shares in the company, valued at approximately $1,223,216.98. This represents a 14.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 363,848 shares of company stock valued at $37,874,706 over the last three months. 6.30% of the stock is 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.