Key Points
- Major shareholder Gerald Ford sold 259,771 shares of Hilltop (NYSE: HTH) on March 5 at an average price of $37.98 for about $9.87 million, cutting his holding by 97% to 7,867 shares, per an SEC filing.
- Hilltop reported quarterly EPS of $0.69 (beating the $0.46 estimate) but revenue of $217.4M missed estimates; the company also raised its quarterly dividend to $0.20 (annualized $0.80) for a ~2.2% yield and a payout ratio of 30.19%.
Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) major shareholder Gerald Ford sold 259,771 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $37.98, for a total transaction of $9,866,102.58. Following the sale, the insider directly owned 7,867 shares of the company's stock, valued at $298,788.66. The trade was a 97.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Hilltop Trading Down 0.1%
NYSE HTH opened at $36.74 on Tuesday. The firm's fifty day simple moving average is $37.00 and its two-hundred day simple moving average is $34.98. The firm has a market capitalization of $2.18 billion, a P/E ratio of 13.87 and a beta of 0.92. Hilltop Holdings Inc. has a 12-month low of $27.35 and a 12-month high of $40.41.
Hilltop (NYSE:HTH - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.46 by $0.23. The firm had revenue of $217.40 million during the quarter, compared to analyst estimates of $300.15 million. Hilltop had a return on equity of 7.47% and a net margin of 10.19%.During the same quarter in the prior year, the business posted $0.55 EPS. As a group, sell-side analysts predict that Hilltop Holdings Inc. will post 1.51 earnings per share for the current fiscal year.
Hilltop Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. This is a boost from Hilltop's previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 13th. Hilltop's dividend payout ratio (DPR) is 30.19%.
Wall Street Analysts Forecast Growth
HTH has been the topic of several recent analyst reports. Zacks Research downgraded shares of Hilltop from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Weiss Ratings reissued a "buy (b)" rating on shares of Hilltop in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Hilltop from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Hilltop from $34.00 to $39.00 and gave the stock a "market perform" rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $37.50.
Get Our Latest Stock Report on HTH
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Strategic Wealth Advisors LLC acquired a new position in Hilltop in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its stake in Hilltop by 584.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 918 shares during the period. Allworth Financial LP lifted its stake in Hilltop by 37.3% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 313 shares during the period. Danske Bank A S purchased a new stake in shares of Hilltop in the 3rd quarter valued at $43,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Hilltop by 42.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,334 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 399 shares during the last quarter. 57.13% of the stock is currently owned by hedge funds and other institutional investors.
About Hilltop
(
Get Free Report)
Hilltop Holdings, Inc (NYSE: HTH) is a Dallas, Texas–based financial holding company offering commercial banking, mortgage lending and capital markets services through its three primary subsidiaries: PlainsCapital Corporation, PrimeLending and HilltopSecurities. PlainsCapital provides deposit, lending and treasury management solutions to small and mid-sized businesses, professionals and individuals. PrimeLending specializes in home purchase and refinance loans, serving retail, wholesale and correspondent channels.
Further Reading
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