Key Points
- Director Rhodes Bobbitt sold 12,100 Hilltop shares at $40 each for $484,000, reducing his direct holdings by 13.72% to 76,096 shares.
- Hilltop reported quarterly EPS of $0.63, beating estimates by $0.14, while revenue of $315.81 million also exceeded expectations. The company raised its quarterly dividend to $0.22, implying a 2.2% yield.
- Hilltop shares were trading near their 12-month high at $39.82, and analysts’ consensus remained “Moderate Buy” with an average price target of $40.00.
Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) Director Rhodes Bobbitt sold 455 shares of Hilltop stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $18,313.75. Following the completion of the transaction, the director owned 55,641 shares in the company, valued at approximately $2,239,550.25. This trade represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Hilltop Stock Down 0.4%
HTH stock opened at $39.82 on Thursday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 14.75 and a beta of 0.89. The business has a fifty day simple moving average of $38.41 and a 200-day simple moving average of $37.58. Hilltop Holdings Inc. has a 52 week low of $30.25 and a 52 week high of $40.41.
Hilltop (NYSE:HTH - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.14. Hilltop had a return on equity of 7.40% and a net margin of 10.17%.The firm had revenue of $315.81 million for the quarter, compared to analysts' expectations of $306.18 million. During the same quarter last year, the firm earned $0.57 earnings per share. As a group, analysts expect that Hilltop Holdings Inc. will post 2.51 earnings per share for the current fiscal year.
Hilltop Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Hilltop's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, August 7th. Hilltop's dividend payout ratio is presently 29.63%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on HTH. Zacks Research upgraded shares of Hilltop from a "strong sell" rating to a "strong-buy" rating in a report on Monday, May 4th. Keefe, Bruyette & Woods increased their price target on Hilltop from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Wednesday. Wall Street Zen lowered Hilltop from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Piper Sandler reaffirmed a "neutral" rating and issued a $42.00 target price on shares of Hilltop in a research report on Tuesday, July 28th. Finally, Weiss Ratings cut Hilltop from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Hilltop currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.
Check Out Our Latest Analysis on Hilltop
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Hilltop by 276.4% during the 2nd quarter. Signaturefd LLC now owns 1,370 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 1,006 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Hilltop by 159.3% during the 1st quarter. Bank of America Corp DE now owns 211,095 shares of the financial services provider's stock valued at $7,561,000 after purchasing an additional 129,683 shares in the last quarter. Amundi raised its holdings in shares of Hilltop by 9.8% in the 1st quarter. Amundi now owns 7,974 shares of the financial services provider's stock worth $286,000 after purchasing an additional 711 shares in the last quarter. California State Teachers Retirement System lifted its stake in Hilltop by 29.0% during the first quarter. California State Teachers Retirement System now owns 57,656 shares of the financial services provider's stock valued at $2,065,000 after purchasing an additional 12,974 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Hilltop by 219.4% during the first quarter. Royal Bank of Canada now owns 16,237 shares of the financial services provider's stock worth $581,000 after buying an additional 11,153 shares in the last quarter. Institutional investors own 57.13% of the company's stock.
Hilltop Company Profile
(
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.
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