Hilltop (NYSE:HTH) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Hilltop (NYSE:HTH) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

HTH has been the topic of several other research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Hilltop in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Hilltop from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Hilltop from $34.00 to $39.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.50.

Hilltop Price Performance

NYSE:HTH traded down $0.82 during trading hours on Wednesday, reaching $36.20. The company’s stock had a trading volume of 50,510 shares, compared to its average volume of 373,801. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 13.66 and a beta of 0.92. Hilltop has a one year low of $27.35 and a one year high of $40.41. The business’s 50-day moving average is $36.91 and its 200-day moving average is $34.89.

Hilltop (NYSE:HTH) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.23. The company had revenue of $217.40 million during the quarter, compared to analysts’ expectations of $300.15 million. Hilltop had a return on equity of 7.47% and a net margin of 10.19%.During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, sell-side analysts predict that Hilltop will post 1.51 EPS for the current fiscal year.

Hilltop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, February 13th. This is a positive change from Hilltop’s previous quarterly dividend of $0.18. Hilltop’s payout ratio is presently 30.19%.

Insider Activity

In other Hilltop news, CEO Steve B. Thompson sold 9,025 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $39.84, for a total value of $359,556.00. Following the sale, the chief executive officer owned 91,817 shares of the company’s stock, valued at $3,657,989.28. The trade was a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Martin Bradley Winges sold 26,000 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $38.46, for a total transaction of $999,960.00. Following the completion of the transaction, the chief executive officer directly owned 65,831 shares of the company’s stock, valued at $2,531,860.26. This trade represents a 28.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 29.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hilltop

A number of hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. acquired a new stake in Hilltop in the 2nd quarter valued at $27,000. Strategic Wealth Advisors LLC bought a new position in shares of Hilltop during the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its position in Hilltop by 584.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the financial services provider’s stock valued at $33,000 after buying an additional 918 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Hilltop by 37.3% in the 4th quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 313 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Hilltop during the 3rd quarter worth approximately $43,000. 57.13% of the stock is owned by institutional investors and hedge funds.

Hilltop Company Profile

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.