Huntington National Bank Raises Position in H&R Block, Inc. (NYSE:HRB)

Huntington National Bank lifted its holdings in shares of H&R Block, Inc. (NYSE:HRB) by 46.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,345 shares of the company’s stock after purchasing an additional 429 shares during the quarter. Huntington National Bank’s holdings in H&R Block were worth $85,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Oppenheimer & Co. Inc. acquired a new stake in H&R Block in the 3rd quarter worth about $461,000. GSA Capital Partners LLP purchased a new position in shares of H&R Block during the 3rd quarter worth about $1,159,000. Versor Investments LP boosted its position in shares of H&R Block by 102.4% in the third quarter. Versor Investments LP now owns 31,900 shares of the company’s stock worth $2,027,000 after acquiring an additional 16,140 shares during the last quarter. Colonial River Investments LLC purchased a new stake in H&R Block in the third quarter valued at approximately $228,000. Finally, Axxcess Wealth Management LLC acquired a new position in H&R Block during the third quarter worth approximately $227,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.

H&R Block Price Performance

H&R Block stock opened at $60.39 on Tuesday. The firm has a fifty day moving average of $61.69 and a 200-day moving average of $57.58. H&R Block, Inc. has a 52-week low of $42.28 and a 52-week high of $68.45. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 16.46. The firm has a market capitalization of $8.28 billion, a P/E ratio of 14.73, a PEG ratio of 0.91 and a beta of 0.67.

H&R Block (NYSE:HRB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.04). The company had revenue of $193.81 million during the quarter, compared to analyst estimates of $188.78 million. H&R Block had a net margin of 16.19% and a negative return on equity of 212.45%. During the same quarter in the prior year, the company posted ($1.05) earnings per share. As a group, analysts predict that H&R Block, Inc. will post 5.28 EPS for the current year.

H&R Block Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 5th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, December 5th. H&R Block’s dividend payout ratio (DPR) is presently 36.59%.

H&R Block announced that its board has authorized a share repurchase program on Thursday, August 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to buy up to 16.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HRB shares. The Goldman Sachs Group boosted their price objective on shares of H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, August 16th. StockNews.com lowered H&R Block from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Barrington Research restated an “outperform” rating and issued a $70.00 price objective on shares of H&R Block in a report on Friday, November 8th.

Insiders Place Their Bets

In related news, CEO Jeffrey J. Jones II sold 9,722 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $63.07, for a total value of $613,166.54. Following the transaction, the chief executive officer now owns 893,169 shares in the company, valued at approximately $56,332,168.83. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kellie J. Logerwell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $64.41, for a total value of $515,280.00. Following the sale, the vice president now owns 18,474 shares of the company’s stock, valued at approximately $1,189,910.34. This trade represents a 30.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

About H&R Block

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. It offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.