Commerce Bank Lowers Stake in H&R Block Inc. (HRB)
Commerce Bank lowered its stake in H&R Block Inc. (NYSE:HRB) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,335 shares of the company’s stock after selling 1,150 shares during the period. Commerce Bank’s holdings in H&R Block were worth $1,605,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of H&R Block by 397.0% in the third quarter. Toronto Dominion Bank now owns 6,446 shares of the company’s stock valued at $149,000 after buying an additional 5,149 shares during the period. Bank of New York Mellon Corp increased its stake in shares of H&R Block by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 4,933,841 shares of the company’s stock valued at $114,219,000 after buying an additional 13,234 shares during the period. Aperio Group LLC increased its stake in shares of H&R Block by 3.5% in the third quarter. Aperio Group LLC now owns 71,704 shares of the company’s stock valued at $1,660,000 after buying an additional 2,433 shares during the period. Quantitative Investment Management LLC bought a new stake in shares of H&R Block during the third quarter valued at about $722,000. Finally, First Trust Advisors LP increased its stake in shares of H&R Block by 111.0% in the third quarter. First Trust Advisors LP now owns 635,072 shares of the company’s stock valued at $14,702,000 after buying an additional 334,111 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.
Shares of H&R Block Inc. (NYSE:HRB) traded down 9.01% on Monday, reaching $21.82. 5,283,434 shares of the company were exchanged. The firm has a 50 day moving average price of $22.85 and a 200-day moving average price of $22.84. H&R Block Inc. has a 12-month low of $19.18 and a 12-month high of $37.35. The stock has a market capitalization of $4.78 billion, a PE ratio of 14.76 and a beta of 0.58.
H&R Block (NYSE:HRB) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by $0.02. H&R Block had a negative return on equity of 202.63% and a net margin of 11.58%. The firm earned $125 million during the quarter. During the same period last year, the firm earned ($0.35) earnings per share. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, analysts predict that H&R Block Inc. will post $1.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 5th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, December 1st. H&R Block’s dividend payout ratio is currently 52.69%.
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Several brokerages have issued reports on HRB. BTIG Research downgraded shares of H&R Block from a “neutral” rating to a “sell” rating and set a $18.00 price objective for the company. in a research report on Monday. Zacks Investment Research downgraded shares of H&R Block from a “hold” rating to a “sell” rating in a research report on Friday, November 18th. Morgan Stanley downgraded shares of H&R Block from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $26.00 to $25.00 in a research report on Wednesday, November 16th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of H&R Block in a research report on Thursday, September 1st. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $28.00 price target (down from $29.00) on shares of H&R Block in a research report on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.77.
In related news, SVP Gregory J. Macfarlane bought 4,618 shares of H&R Block stock in a transaction dated Thursday, September 1st. The stock was purchased at an average cost of $21.65 per share, with a total value of $99,979.70. Following the transaction, the senior vice president now directly owns 121,707 shares of the company’s stock, valued at $2,634,956.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.
H&R Block Company Profile
H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.
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