Hilltop Holdings Inc. (HTH) Rating Lowered to Sell at Zacks Investment Research
Hilltop Holdings Inc. (NYSE:HTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
According to Zacks, “Hilltop Holdings’ shares have underperformed the industry in the past year. Also, the company has surpassed the Zacks Consensus Estimate for earnings in just one of the trailing four quarters. Elevated expense levels (owing to continued investments in franchise) remain a key concern. Moreover, overall expenses are expected to continue to increase thereby affecting bottom-line growth. Also, deteriorating performance of its Mortgage Origination segment is expected to hurt financials in the near-term. However, the company has a solid organic growth strategy in place and its capital deployment plans remain impressive.”
A number of other brokerages have also recently weighed in on HTH. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Hilltop Holdings in a research note on Tuesday, September 12th. BidaskClub cut Hilltop Holdings from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Compass Point upgraded Hilltop Holdings from a “neutral” rating to a “buy” rating and set a $30.50 price objective for the company in a research note on Tuesday, August 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $30.00 price objective on shares of Hilltop Holdings in a research note on Friday, September 1st. Finally, ValuEngine upgraded Hilltop Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $32.08.
Hilltop Holdings (HTH) opened at 26.08 on Friday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 14.59 and a beta of 1.00. Hilltop Holdings has a 12 month low of $21.47 and a 12 month high of $30.60. The company has a 50 day moving average of $24.50 and a 200 day moving average of $25.88.
Hilltop Holdings (NYSE:HTH) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.20. Hilltop Holdings had a return on equity of 9.39% and a net margin of 10.02%. The company had revenue of $460.67 million during the quarter, compared to analysts’ expectations of $431.80 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, equities analysts predict that Hilltop Holdings will post $1.54 EPS for the current year.
In other news, Director J Markham Green sold 4,389 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $25.98, for a total transaction of $114,026.22. Following the completion of the sale, the director now owns 114,763 shares in the company, valued at $2,981,542.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Clifton Robinson purchased 20,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $24.97 per share, with a total value of $499,400.00. Following the purchase, the director now directly owns 1,255,024 shares of the company’s stock, valued at $31,337,949.28. The disclosure for this purchase can be found here. 22.60% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Hilltop Holdings by 0.6% in the second quarter. FMR LLC now owns 6,304,653 shares of the financial services provider’s stock worth $165,245,000 after acquiring an additional 35,179 shares in the last quarter. Vanguard Group Inc. raised its position in Hilltop Holdings by 0.5% in the second quarter. Vanguard Group Inc. now owns 5,909,111 shares of the financial services provider’s stock worth $154,877,000 after acquiring an additional 28,889 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Hilltop Holdings by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,679,539 shares of the financial services provider’s stock worth $156,016,000 after acquiring an additional 155,403 shares in the last quarter. BlackRock Inc. raised its position in Hilltop Holdings by 26,007.9% in the first quarter. BlackRock Inc. now owns 4,980,856 shares of the financial services provider’s stock worth $136,824,000 after acquiring an additional 4,961,778 shares in the last quarter. Finally, State Street Corp raised its position in Hilltop Holdings by 18.3% in the first quarter. State Street Corp now owns 2,198,523 shares of the financial services provider’s stock worth $60,393,000 after acquiring an additional 340,542 shares in the last quarter. 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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