Zurcher Kantonalbank Zurich Cantonalbank Has $2.33 Million Stake in H&R Block, Inc. (NYSE:HRB)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in H&R Block, Inc. (NYSE:HRB) by 15.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,721 shares of the company’s stock after selling 6,798 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in H&R Block were worth $2,334,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Eastern Bank acquired a new position in H&R Block in the 3rd quarter valued at $25,000. Bogart Wealth LLC increased its stake in shares of H&R Block by 606.1% in the third quarter. Bogart Wealth LLC now owns 466 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of H&R Block during the 3rd quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in H&R Block during the 3rd quarter valued at approximately $35,000. Finally, Quest Partners LLC increased its position in H&R Block by 2,756.0% in the 2nd quarter. Quest Partners LLC now owns 714 shares of the company’s stock worth $39,000 after buying an additional 689 shares during the period. Institutional investors own 90.14% of the company’s stock.

H&R Block Price Performance

NYSE:HRB opened at $58.15 on Wednesday. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.90 and a beta of 0.66. The company has a 50-day moving average of $60.66 and a 200-day moving average of $58.11. H&R Block, Inc. has a 52 week low of $42.28 and a 52 week high of $68.45. The company has a debt-to-equity ratio of 16.46, a quick ratio of 0.77 and a current ratio of 0.77.

H&R Block (NYSE:HRB) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.04). H&R Block had a net margin of 16.19% and a negative return on equity of 212.45%. The company had revenue of $193.81 million for the quarter, compared to analyst estimates of $188.78 million. During the same period in the previous year, the firm posted ($1.05) earnings per share. As a group, equities research analysts anticipate that H&R Block, Inc. will post 5.27 earnings per share for the current fiscal year.

H&R Block announced that its Board of Directors has approved a stock repurchase program on Thursday, August 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 16.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

H&R Block Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, December 5th. H&R Block’s dividend payout ratio (DPR) is currently 36.59%.

Insider Activity at H&R Block

In related news, VP Kellie J. Logerwell sold 8,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $64.41, for a total transaction of $515,280.00. Following the sale, the vice president now directly owns 18,474 shares in the company, valued at $1,189,910.34. This represents a 30.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HRB shares. The Goldman Sachs Group increased their price target on shares of H&R Block from $39.00 to $44.00 and gave the company a “sell” rating in a report on Friday, August 16th. Barrington Research restated an “outperform” rating and set a $70.00 price target on shares of H&R Block in a research note on Friday, November 8th. Finally, StockNews.com downgraded H&R Block from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

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.