Hilltop (NYSE:HTH) Stock Price Target Lowered at Piper Sandler

Hilltop (NYSE:HTH) had its target price cut by stock analysts at Piper Sandler from $42.00 to $36.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler‘s price target points to a potential downside of 1.70% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded Hilltop from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, November 4th. Keefe, Bruyette & Woods increased their price target on Hilltop from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Zacks Research downgraded Hilltop from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 7th. Raymond James Financial downgraded Hilltop from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 6th. Finally, Wall Street Zen upgraded Hilltop from a “strong sell” rating to a “sell” rating in a research report on Sunday, November 1st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Hilltop Stock Performance

NYSE HTH opened at $36.62 on Wednesday. Hilltop has a one year low of $32.17 and a one year high of $40.41. The company has a 50-day simple moving average of $37.60 and a 200-day simple moving average of $37.74. The firm has a market capitalization of $2.08 billion, a PE ratio of 15.41 and a beta of 0.88.

Hilltop (NYSE:HTH) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.20). Hilltop had a return on equity of 6.51% and a net margin of 9.08%. The business had revenue of $309.51 million for the quarter, compared to analyst estimates of $320.37 million. During the same quarter last year, the company earned $0.74 EPS. Equities analysts forecast that Hilltop will post 2.49 earnings per share for the current year.

Insider Buying and Selling

In other Hilltop news, Director Rhodes Bobbitt sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $39.50, for a total value of $395,000.00. Following the completion of the transaction, the director owned 45,641 shares in the company, valued at approximately $1,802,819.50. This represents a 17.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 20,000 shares of company stock valued at $783,000. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hilltop

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Hilltop in the 3rd quarter worth approximately $30,000. Strategic Wealth Advisors LLC bought a new stake in Hilltop during the 2nd quarter valued at $33,000. Signaturefd LLC raised its stake in Hilltop by 276.4% during the 2nd quarter. Signaturefd LLC now owns 1,370 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,006 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Hilltop during the 2nd quarter worth $62,000. Finally, Allworth Financial LP acquired a new position in Hilltop during the 2nd quarter worth $65,000. 57.13% of the stock is currently owned by institutional investors and hedge funds.

About Hilltop

Hilltop Holdings Inc. is a Dallas-based financial holding company with businesses in banking, mortgage lending and securities. Its operations primarily serve customers in Texas and other U.S. markets. Through PlainsCapital Bank, Hilltop provides commercial and consumer banking services, including deposit accounts, loans and treasury management. PrimeLending originates residential mortgages, while HilltopSecurities offers investment banking, municipal finance, brokerage and wealth management services.