Latest Stocks: Comerica Bank Has $4.94 Million Stake in Healthcare Services Group, Inc. (HCSG)

Latest Stocks: Comerica Bank Has $4.94 Million Stake in Healthcare Services Group, Inc. (HCSG)

Comerica Bank increased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,126 shares of the business services provider’s stock after buying an additional 1,520 shares during the period. Comerica Bank owned about 0.15% of Healthcare Services Group worth $4,939,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Healthcare Services Group by 3.7% in the third quarter. Principal Financial Group Inc. now owns 538,354 shares of the business services provider’s stock worth $21,307,000 after buying an additional 19,391 shares during the last quarter. Northern Trust Corp increased its position in shares of Healthcare Services Group by 0.4% in the third quarter. Northern Trust Corp now owns 1,404,822 shares of the business services provider’s stock worth $55,603,000 after buying an additional 5,812 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Healthcare Services Group by 0.9% in the third quarter. California State Teachers Retirement System now owns 149,164 shares of the business services provider’s stock worth $5,904,000 after buying an additional 1,300 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Healthcare Services Group by 3.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,768,578 shares of the business services provider’s stock worth $70,000,000 after buying an additional 53,039 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Healthcare Services Group by 5.8% in the third quarter. BlackRock Group LTD now owns 102,558 shares of the business services provider’s stock worth $4,059,000 after buying an additional 5,626 shares during the last quarter. 93.71% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group, Inc. (NASDAQ:HCSG) opened at 49.05 on Tuesday. Healthcare Services Group, Inc. has a 1-year low of $34.83 and a 1-year high of $50.00. The stock has a market cap of $3.58 billion, a P/E ratio of 45.00 and a beta of 0.68. The company has a 50-day moving average price of $46.46 and a 200 day moving average price of $42.22.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, April 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a net margin of 4.95% and a return on equity of 23.71%. The company had revenue of $404.50 million for the quarter, compared to analysts’ expectations of $416.40 million. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts expect that Healthcare Services Group, Inc. will post $1.21 earnings per share for the current fiscal year. The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 19th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $0.75 annualized dividend and a yield of 1.53%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is currently 69.16%.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, April 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a net margin of 4.95% and a return on equity of 23.71%. The company had revenue of $404.50 million for the quarter, compared to analysts’ expectations of $416.40 million. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts expect that Healthcare Services Group, Inc. will post $1.21 earnings per share for the current fiscal year. A number of equities analysts have recently weighed in on HCSG shares. Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 9th. Credit Suisse Group AG started coverage on Healthcare Services Group in a research note on Friday, May 19th. They issued an “outperform” rating and a $50.00 target price on the stock. Stifel Nicolaus boosted their target price on Healthcare Services Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Finally, Jefferies Group LLC restated a “hold” rating on shares of Healthcare Services Group in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $46.25.

In related news, Director Daniel P. Mccartney sold 113,901 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $45.87, for a total value of $5,224,638.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.80% of the company’s stock. Healthcare Services Group Company Profile

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