H&R Block (HRB) Tops Q1 EPS by 5c
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September 2, 2015 7:59 AM EDT
Wedbush reiterated an Outperform rating on H&R Block (NYSE: HRB), and raised the price target to $46.00 (from $44.00), following the completion of Bank Disposition. In addition to the bank sale, company announced a modified Dutch auction tender offer commencing on 9/2 for $1.5 billion of stock with a new long-term buyback authorization of $3.5... More
September 2, 2015 7:40 AM EDT
Piper Jaffray analyst George Tong reiterated an Overweight rating and bumped his price target on H&R Block (NYSE: HRB) to $44.00 (from $43.00) as the bank divestiture closes ahead of schedule and the company announced a new $3.5 billion stock buyback plan.
Tong... More
September 1, 2015 4:04 PM EDT
H&R Block (NYSE: HRB) announced that it has successfully closed its transaction to divest H&R Block Bank, selling certain assets and transferring certain liabilities, including all of its deposits, to BofI Federal Bank ("BofI") a full month earlier than expected. At the time of the closing, the bank made a one-time cash payment to BofI of approximately $419 million, which is approximately equal to the carrying value of the liabilities (including all deposit liabilities) assumed by BofI. The bank merged into its parent company, surrendered its bank charter, and... More
