Commerce Bank decreased its position in shares of H&R Block Inc. (NYSE:HRB) by 1.6% during the third quarter, Holdings Channel reports. 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 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in HRB. Palo Capital Inc. acquired a new stake in shares of H&R Block during the second quarter worth approximately $3,170,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in H&R Block during the second quarter valued at about $336,000. State of Alaska Department of Revenue purchased a new stake in H&R Block during the second quarter valued at about $1,662,000. Capital One National Association purchased a new stake in H&R Block during the second quarter valued at about $214,000. Finally, Punch & Associates Investment Management Inc. boosted its stake in H&R Block by 1.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 104,284 shares of the company’s stock valued at $2,399,000 after buying an additional 1,291 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.
H&R Block Inc. (NYSE:HRB) traded down 9.01% during trading on Monday, hitting $21.82. 5,283,434 shares of the company traded hands. The company’s 50 day moving average is $22.85 and its 200-day moving average is $22.84. H&R Block Inc. has a 52 week low of $19.18 and a 52 week 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 posted its quarterly earnings results on Tuesday, August 30th. The company reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by $0.02. The firm earned $125 million during the quarter. H&R Block had a negative return on equity of 202.63% and a net margin of 11.58%. H&R Block’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) EPS. Analysts predict that H&R Block Inc. will post $1.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be given a $0.22 dividend. The ex-dividend date is Thursday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.03%. H&R Block’s payout ratio is currently 52.69%.
Several analysts have issued reports on the stock. BTIG Research cut shares of H&R Block from a “neutral” rating to a “sell” rating and set a $18.00 target price on the stock. in a research note on Monday. Zacks Investment Research cut shares of H&R Block from a “hold” rating to a “sell” rating in a research note on Friday, November 18th. Morgan Stanley cut shares of H&R Block from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $26.00 to $25.00 in a research note on Wednesday, November 16th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of H&R Block in a research note on Thursday, September 1st. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $28.00 target price (down from $29.00) on shares of H&R Block in a research note on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.77.
In other news, SVP Gregory J. Macfarlane purchased 4,618 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was acquired at an average cost of $21.65 per share, for a total transaction of $99,979.70. Following the completion of the transaction, the senior vice president now directly owns 121,707 shares in the company, valued at approximately $2,634,956.55. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.
About H&R Block
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.