Hilltop Holdings Inc. (HTH) Shares Up 7.1%
Shares of Hilltop Holdings Inc. (NYSE:HTH) shot up 7.1% during mid-day trading on Tuesday . The company traded as high as $24.03 and last traded at $24.01. 909,506 shares were traded during mid-day trading, an increase of 185% from the average session volume of 318,924 shares. The stock had previously closed at $22.42.
A number of brokerages recently issued reports on HTH. Compass Point upgraded shares of Hilltop Holdings from a “neutral” rating to a “buy” rating and set a $30.50 price target for the company in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods restated a “neutral” rating on shares of Hilltop Holdings in a research note on Tuesday. BidaskClub lowered shares of Hilltop Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Hilltop Holdings from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Tuesday, July 4th. Finally, Stephens set a $31.00 price target on shares of Hilltop Holdings and gave the stock a “buy” rating in a research note on Monday, June 26th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.08.
The firm has a market capitalization of $2.31 billion, a PE ratio of 13.44 and a beta of 1.02. The company has a 50-day moving average price of $24.78 and a 200-day moving average price of $26.24.
Hilltop Holdings (NYSE:HTH) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.20. The business had revenue of $460.67 million during the quarter, compared to analyst estimates of $431.80 million. Hilltop Holdings had a return on equity of 9.39% and a net margin of 10.02%. During the same period in the prior year, the company posted $0.32 earnings per share. On average, analysts forecast that Hilltop Holdings Inc. will post $1.59 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were paid a $0.06 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.00%. Hilltop Holdings’s payout ratio is 13.41%.
In other news, Director Charles Clifton Robinson bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average cost of $23.90 per share, for a total transaction of $239,000.00. Following the completion of the purchase, the director now owns 1,265,024 shares of the company’s stock, valued at approximately $30,234,073.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Markham Green sold 4,389 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $25.98, for a total value of $114,026.22. Following the completion of the transaction, the director now owns 114,763 shares of the company’s stock, valued at $2,981,542.74. The disclosure for this sale can be found here. Corporate insiders own 22.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HTH. Wells Fargo & Company MN raised its stake in shares of Hilltop Holdings by 1.3% in the first quarter. Wells Fargo & Company MN now owns 491,999 shares of the financial services provider’s stock valued at $13,516,000 after purchasing an additional 6,267 shares in the last quarter. LSV Asset Management grew its position in Hilltop Holdings by 387.4% in the first quarter. LSV Asset Management now owns 48,438 shares of the financial services provider’s stock valued at $1,330,000 after acquiring an additional 38,500 shares during the period. Bank of New York Mellon Corp grew its position in Hilltop Holdings by 98.5% in the first quarter. Bank of New York Mellon Corp now owns 772,163 shares of the financial services provider’s stock valued at $21,211,000 after acquiring an additional 383,160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hilltop Holdings by 93.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,648 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,760 shares during the period. Finally, Swiss National Bank grew its position in Hilltop Holdings by 1.3% in the first quarter. Swiss National Bank now owns 129,800 shares of the financial services provider’s stock valued at $3,566,000 after acquiring an additional 1,700 shares during the period. Institutional investors and hedge funds own 56.32% of the company’s stock.
About Hilltop Holdings
Hilltop Holdings Inc is a financial holding Company. The Company provides business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the Bank). It has three operating business units, which include PlainsCapital Corporation (PCC) (banking and mortgage origination), Hilltop Securities Holdings LLC (Securities Holdings) (broker-dealer) and PlainsCapital Company (NLC) (insurance).
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