Allspring Global Investments Holdings LLC Sells 874 Shares of Hilltop Holdings Inc. $HTH

Allspring Global Investments Holdings LLC lowered its stake in Hilltop Holdings Inc. (NYSE:HTH) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,138 shares of the financial services provider’s stock after selling 874 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hilltop were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Hilltop by 141.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,400 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 821 shares during the period. SouthState Corp bought a new position in Hilltop in the 1st quarter worth about $56,000. CWM LLC boosted its stake in Hilltop by 134.4% in the 1st quarter. CWM LLC now owns 2,811 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,612 shares during the period. KBC Group NV boosted its stake in Hilltop by 18.7% in the 1st quarter. KBC Group NV now owns 3,111 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 490 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Hilltop in the 1st quarter worth about $170,000. Institutional investors own 57.13% of the company’s stock.

Hilltop Price Performance

NYSE:HTH opened at $33.93 on Friday. The business has a 50 day moving average of $33.73 and a 200 day moving average of $31.35. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 13.52 and a beta of 0.87. Hilltop Holdings Inc. has a 1-year low of $26.67 and a 1-year high of $36.13.

Hilltop (NYSE:HTH) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.25. The company had revenue of $330.20 million during the quarter, compared to the consensus estimate of $309.68 million. Hilltop had a return on equity of 7.17% and a net margin of 9.86%.During the same quarter in the previous year, the company posted $0.46 EPS. As a group, sell-side analysts anticipate that Hilltop Holdings Inc. will post 1.51 EPS for the current year.

Hilltop Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be given a $0.18 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.72 dividend on an annualized basis and a yield of 2.1%. Hilltop’s payout ratio is presently 32.29%.

Analysts Set New Price Targets

HTH has been the subject of a number of research analyst reports. Wall Street Zen upgraded Hilltop from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Zacks Research upgraded Hilltop from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hilltop in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Hilltop currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Insider Buying and Selling

In other news, Chairman Jonathan S. Sobel bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was bought at an average price of $35.36 per share, for a total transaction of $353,600.00. Following the transaction, the chairman directly owned 127,429 shares of the company’s stock, valued at $4,505,889.44. This represents a 8.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steve B. Thompson sold 6,640 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $32.68, for a total value of $216,995.20. Following the completion of the sale, the chief executive officer owned 102,998 shares of the company’s stock, valued at $3,365,974.64. The trade was a 6.06% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 60,000 shares of company stock valued at $2,022,800 in the last 90 days. 29.90% of the stock is currently owned by corporate insiders.

Hilltop Company 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.