Comerica Bank Decreases Position in Healthcare Services Group, Inc. (HCSG)

Comerica Bank cut its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.7% during the 1st quarter, Holdings Channel reports. The firm owned 102,609 shares of the business services provider’s stock after selling 6,239 shares during the period. Comerica Bank’s holdings in Healthcare Services Group were worth $4,010,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors bought a new stake in shares of Healthcare Services Group during the 4th quarter valued at approximately $118,000. Israel Discount Bank of New York grew its holdings in shares of Healthcare Services Group by 112.2% during the 4th quarter. Israel Discount Bank of New York now owns 2,515 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 1,330 shares during the last quarter. We Are One Seven LLC bought a new stake in shares of Healthcare Services Group during the 4th quarter valued at approximately $155,000. M&T Bank Corp bought a new stake in shares of Healthcare Services Group during the 4th quarter valued at approximately $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Healthcare Services Group by 52.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,109 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 1,409 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors.

HCSG opened at $37.01 on Friday. Healthcare Services Group, Inc. has a fifty-two week low of $36.85 and a fifty-two week high of $37.55. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, April 17th. The business services provider reported $0.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.38). Healthcare Services Group had a return on equity of 16.99% and a net margin of 3.38%. The business had revenue of $501.81 million for the quarter, compared to the consensus estimate of $505.44 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 24.1% compared to the same quarter last year. equities analysts predict that Healthcare Services Group, Inc. will post 1.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, May 25th will be paid a $0.1925 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 24th. Healthcare Services Group’s dividend payout ratio is currently 63.87%.

In other news, Director Dino D. Ottaviano sold 1,500 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $45.15, for a total value of $67,725.00. Following the sale, the director now directly owns 2,044 shares of the company’s stock, valued at approximately $92,286.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert J. Moss sold 2,000 shares of the company’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $44.50, for a total transaction of $89,000.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at $89,000. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

A number of equities research analysts have weighed in on the stock. BidaskClub lowered shares of Healthcare Services Group from a “sell” rating to a “strong sell” rating in a report on Friday, May 4th. ValuEngine lowered shares of Healthcare Services Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Healthcare Services Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 1st. Jefferies Group set a $40.00 target price on shares of Healthcare Services Group and gave the stock a “hold” rating in a report on Tuesday, April 17th. Finally, Credit Suisse Group reduced their target price on shares of Healthcare Services Group from $62.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, April 18th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Healthcare Services Group currently has a consensus rating of “Hold” and a consensus target price of $45.60.

Healthcare Services Group Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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