Rhumbline Advisers Cuts Stake in Hilltop Holdings Inc. $HTH

Rhumbline Advisers lowered its position in shares of Hilltop Holdings Inc. (NYSE:HTH) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,483 shares of the financial services provider’s stock after selling 3,974 shares during the period. Rhumbline Advisers owned about 0.22% of Hilltop worth $4,217,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. SouthState Corp bought a new stake in Hilltop during the first quarter valued at about $56,000. CWM LLC boosted its position in Hilltop by 134.4% during the first quarter. CWM LLC now owns 2,811 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,612 shares in the last quarter. KBC Group NV boosted its position in Hilltop by 18.7% during the first quarter. KBC Group NV now owns 3,111 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 490 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Hilltop during the first quarter valued at about $170,000. Finally, Point72 Asset Management L.P. bought a new stake in Hilltop during the fourth quarter valued at about $193,000. Hedge funds and other institutional investors own 57.13% of the company’s stock.

Hilltop Stock Performance

Shares of NYSE HTH opened at $34.70 on Monday. The company has a market cap of $2.19 billion, a PE ratio of 15.56 and a beta of 0.87. The business has a 50-day simple moving average of $32.35 and a two-hundred day simple moving average of $30.83. Hilltop Holdings Inc. has a fifty-two week low of $26.67 and a fifty-two week high of $36.13.

Hilltop (NYSE:HTH) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.16. The business had revenue of $303.31 million during the quarter, compared to the consensus estimate of $310.18 million. Hilltop had a return on equity of 6.46% and a net margin of 8.90%.During the same quarter last year, the company earned $0.31 earnings per share. On average, sell-side analysts predict that Hilltop Holdings Inc. will post 1.51 earnings per share for the current fiscal year.

Hilltop Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 15th. Hilltop’s dividend payout ratio (DPR) is currently 32.29%.

Insider Activity at Hilltop

In other news, Chairman Jonathan S. Sobel bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average price of $35.36 per share, with a total value of $353,600.00. Following the completion of the acquisition, the chairman directly owned 127,429 shares of the company’s stock, valued at $4,505,889.44. This trade represents a 8.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 60,000 shares of company stock worth $2,022,800 over the last three months. Insiders own 29.90% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Hilltop from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.00.

Hilltop Profile

Hilltop Holdings Inc provides business and consumer banking services. It operates through three segments: Banking, Broker-Dealer, and Mortgage Origination. 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, term, agricultural and commercial real estate, equipment loans, and other lending products; and mortgage, commercial and industrial loans, and term and construction finance.