Hilltop National Bank Purchases Shares of 1,404 FirstService Corporation $FSV

Hilltop National Bank acquired a new stake in FirstService Corporation (NASDAQ:FSV) (TSE:FSV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,404 shares of the financial services provider’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of FirstService by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock valued at $301,051,000 after purchasing an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd raised its holdings in shares of FirstService by 18.8% in the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock worth $235,183,000 after buying an additional 224,125 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in FirstService by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock worth $111,424,000 after acquiring an additional 15,334 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in FirstService by 27.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 533,385 shares of the financial services provider’s stock worth $88,459,000 after acquiring an additional 115,898 shares during the last quarter. Finally, Copeland Capital Management LLC raised its stake in FirstService by 7.2% in the 1st quarter. Copeland Capital Management LLC now owns 382,852 shares of the financial services provider’s stock worth $63,534,000 after acquiring an additional 25,829 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of FirstService in a research note on Saturday, September 27th. Scotiabank raised their price target on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Zacks Research lowered shares of FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. TD Securities reissued a “hold” rating on shares of FirstService in a research report on Thursday, September 4th. Finally, Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average price target of $217.75.

FirstService Stock Up 0.5%

FSV opened at $188.72 on Friday. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $209.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The company has a fifty day moving average of $198.22 and a two-hundred day moving average of $182.36. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 60.49 and a beta of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $1.36 EPS. FirstService’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts expect that FirstService Corporation will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th will be given a $0.275 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.6%. FirstService’s payout ratio is 35.26%.

FirstService Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.