Public Employees Retirement System of Ohio Purchases New Position in Hilltop Holdings Inc. $HTH

Public Employees Retirement System of Ohio acquired a new position in Hilltop Holdings Inc. (NYSE:HTH) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 53,387 shares of the financial services provider’s stock, valued at approximately $2,070,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Hilltop by 584.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 918 shares in the last quarter. Strategic Wealth Advisors LLC purchased a new position in shares of Hilltop in the second quarter valued at $33,000. Allworth Financial LP raised its stake in shares of 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 purchasing an additional 313 shares during the period. Danske Bank A S bought a new stake in shares of Hilltop during the 3rd quarter valued at $43,000. Finally, Signaturefd LLC lifted its holdings in Hilltop by 276.4% during the 2nd quarter. Signaturefd LLC now owns 1,370 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 1,006 shares in the last quarter. Institutional investors own 57.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HTH. Piper Sandler restated a “neutral” rating and issued a $42.00 target price on shares of Hilltop in a research note on Tuesday, July 28th. Weiss Ratings upgraded Hilltop from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Keefe, Bruyette & Woods increased their price target on shares of Hilltop from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Hilltop from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Hilltop currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Hilltop Trading Down 0.1%

Shares of HTH opened at $39.20 on Monday. Hilltop Holdings Inc. has a 12-month low of $30.78 and a 12-month high of $40.41. The company has a market cap of $2.25 billion, a PE ratio of 14.52 and a beta of 0.88. The stock has a 50-day moving average price of $38.83 and a 200-day moving average price of $37.75.

Hilltop (NYSE:HTH) last announced 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 net margin of 10.17% and a return on equity of 7.40%. The business had revenue of $315.81 million for the quarter, compared to the consensus estimate of $306.18 million. During the same period last year, the firm posted $0.57 earnings per share. As a group, analysts predict that Hilltop Holdings Inc. will post 2.59 earnings per share for the current year.

Hilltop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Hilltop’s previous quarterly dividend of $0.20. Hilltop’s payout ratio is presently 32.59%.

Insider Buying and Selling

In other Hilltop news, Director Rhodes Bobbitt sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $40.12, for a total transaction of $802,400.00. Following the sale, the director owned 56,096 shares in the company, valued at $2,250,571.52. This trade represents a 26.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 52,555 shares of company stock valued at $2,087,714 over the last quarter. 5.40% of the stock is owned by corporate insiders.

About Hilltop

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.