Bank of America Corp DE lowered its position in shares of Hilltop Holdings Inc. (NYSE:HTH) by 38.5% in the second quarter, HoldingsChannel.com reports. The fund owned 107,793 shares of the financial services provider’s stock after selling 67,500 shares during the quarter. Bank of America Corp DE’s holdings in Hilltop were worth $2,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in shares of Hilltop by 317.9% in the 2nd quarter. SG Americas Securities LLC now owns 120,207 shares of the financial services provider’s stock valued at $2,557,000 after buying an additional 91,441 shares during the period. Boston Advisors LLC acquired a new position in shares of Hilltop in the 2nd quarter valued at about $972,000. Aperio Group LLC acquired a new position in shares of Hilltop in the 2nd quarter valued at about $121,000. Envestnet Asset Management Inc. lifted its holdings in shares of Hilltop by 41.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 111,588 shares of the financial services provider’s stock valued at $2,373,000 after buying an additional 32,805 shares during the period. Finally, Scout Investments Inc. lifted its holdings in shares of Hilltop by 65.0% in the 2nd quarter. Scout Investments Inc. now owns 225,699 shares of the financial services provider’s stock valued at $4,801,000 after buying an additional 88,942 shares during the period. 61.49% of the stock is owned by institutional investors.

Shares of Hilltop stock opened at $23.70 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.99 and a debt-to-equity ratio of 0.03. Hilltop Holdings Inc. has a twelve month low of $16.43 and a twelve month high of $25.60. The business has a 50-day moving average price of $24.04 and a 200 day moving average price of $21.74. The firm has a market cap of $2.20 billion, a PE ratio of 18.52 and a beta of 0.84.

Hilltop (NYSE:HTH) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.24. Hilltop had a return on equity of 8.02% and a net margin of 9.56%. The firm had revenue of $420.75 million during the quarter, compared to analyst estimates of $380.83 million. During the same quarter in the previous year, the business earned $0.35 EPS. On average, sell-side analysts expect that Hilltop Holdings Inc. will post 1.93 EPS for the current year.

In related news, insider Darren E. Parmenter sold 4,000 shares of Hilltop stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $24.00, for a total value of $96,000.00. Following the completion of the transaction, the insider now owns 35,778 shares in the company, valued at approximately $858,672. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 21.20% of the stock is owned by insiders.

Several equities analysts have recently issued reports on HTH shares. Stephens set a $24.00 price objective on Hilltop and gave the company a “hold” rating in a report on Friday, August 23rd. TheStreet raised Hilltop from a “c+” rating to a “b-” rating in a report on Friday, July 19th. Raymond James raised Hilltop from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Thursday, August 29th. Finally, ValuEngine cut Hilltop from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $23.42.

Hilltop Profile

Hilltop Holdings Inc provides banking and financial products and services. The company operates in four segments: Banking, Broker-Dealer, Mortgage Origination, and Insurance. The Banking segment offers savings, checking, interest-bearing checking, and money market accounts; certificates of deposit; lines and letters of credit, home improvement and equity loans, loans for purchasing and carrying securities, equipment loans and leases, agricultural and commercial real estate loans, and other loans; and commercial and industrial loans, and term and construction finance.

Featured Story: Stocks at 52 Week High

Want to see what other hedge funds are holding HTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hilltop Holdings Inc. (NYSE:HTH).

Institutional Ownership by Quarter for Hilltop (NYSE:HTH)

Receive News & Ratings for Hilltop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hilltop and related companies with MarketBeat.com's FREE daily email newsletter.