Bank of New York Mellon Corp Acquires New Position in H&R Block, Inc. $HRB

Key Points

• Bank of New York Mellon acquired 1.48 million H&R Block shares worth approximately $56.2 million, giving it a 1.16% stake. Institutional investors now own 90.14% of the company.
• H&R Block beat quarterly estimates with earnings of $2.38 per share and revenue of $1.14 billion, while revenue surged 255.5% year over year. The stock opened at $52.53, near its one-year high of $58.67.
• The company raised its quarterly dividend from $0.42 to $0.46 per share, implying an annualized dividend of $1.84 and a 3.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $46.67.

Bank of New York Mellon Corp bought a new position in shares of H&R Block, Inc. (NYSE:HRB - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,476,375 shares of the company's stock, valued at approximately $56,220,000. Bank of New York Mellon Corp owned about 1.16% of H&R Block as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HRB. Handelsbanken Fonder AB lifted its stake in H&R Block by 8.1% during the second quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company's stock worth $1,428,000 after purchasing an additional 2,800 shares during the last quarter. Carolina Wealth Advisors LLC increased its stake in H&R Block by 14.3% during the second quarter. Carolina Wealth Advisors LLC now owns 58,629 shares of the company's stock valued at $2,233,000 after purchasing an additional 7,326 shares during the last quarter. Affinity Capital Advisors LLC lifted its position in shares of H&R Block by 62.8% in the 2nd quarter. Affinity Capital Advisors LLC now owns 12,094 shares of the company's stock worth $474,000 after buying an additional 4,666 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of H&R Block by 34.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,040 shares of the company's stock valued at $40,000 after buying an additional 267 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of H&R Block in the 2nd quarter valued at about $4,455,000. 90.14% of the stock is currently owned by institutional investors.

H&R Block Trading Down 1.2%

NYSE:HRB opened at $52.53 on Thursday. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.69 and a beta of 0.34. The company has a debt-to-equity ratio of 12.69, a quick ratio of 1.13 and a current ratio of 1.13. H&R Block, Inc. has a 1 year low of $28.16 and a 1 year high of $58.67. The business has a fifty day moving average of $43.50 and a 200-day moving average of $36.84.

H&R Block (NYSE:HRB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.17. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.12 billion. H&R Block had a net margin of 18.59% and a negative return on equity of 214.84%. The company's revenue was up 255.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.27 earnings per share. H&R Block has set its FY 2027 guidance at 6.040-6.240 EPS. Equities analysts predict that H&R Block, Inc. will post 6.14 earnings per share for the current year.

H&R Block Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Thursday, September 3rd will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from H&R Block's previous quarterly dividend of $0.42. H&R Block's dividend payout ratio (DPR) is currently 29.37%.

Wall Street Analysts Forecast Growth

HRB has been the topic of several research reports. Zacks Research lowered shares of H&R Block from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings upgraded H&R Block from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 2nd. Barrington Research raised their price target on H&R Block from $50.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Stephens initiated coverage on H&R Block in a research note on Tuesday, July 28th. They set an "equal weight" rating and a $47.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on H&R Block from $29.00 to $33.00 and gave the stock a "sell" rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, H&R Block has a consensus rating of "Hold" and an average price target of $46.67.

H&R Block Company Profile

H&R Block NYSE: HRB is a leading provider of tax preparation services and software solutions, serving individual and small-business clients through a combination of retail offices, online platforms and mobile applications. The company offers assisted tax preparation at its network of retail offices, where clients work with trained tax professionals, as well as do-it-yourself (DIY) software and online filing services designed to guide users through the complexities of federal and state tax returns.

Founded in 1955 by brothers Henry W.

Want to see what other hedge funds are holding HRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for H&R Block, Inc. (NYSE:HRB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source