Hilltop (NYSE:HTH) Cut to “Hold” at Zacks Research

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

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Hilltop from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Keefe, Bruyette & Woods raised their price objective on Hilltop from $34.00 to $39.00 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hilltop in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.50.

Hilltop Stock Performance

Shares of HTH opened at $36.81 on Wednesday. Hilltop has a 52-week low of $27.35 and a 52-week high of $40.41. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 13.89 and a beta of 0.92. The business’s fifty day moving average is $36.96 and its 200-day moving average is $34.93.

Hilltop (NYSE:HTH) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.46 by $0.23. The firm had revenue of $217.40 million during the quarter, compared to the consensus estimate 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. As a group, research analysts forecast that Hilltop will post 1.51 EPS for the current fiscal year.

Hilltop Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Hilltop’s previous quarterly dividend of $0.18. Hilltop’s payout ratio is currently 30.19%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Hilltop

A number of institutional investors and hedge funds have recently modified their holdings of HTH. Lexington Hill Partners LLC acquired a new stake in shares of Hilltop during the 4th quarter worth approximately $354,000. Corient Private Wealth LLC acquired a new position in shares of Hilltop during the 4th quarter valued at $304,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Hilltop by 5.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 97,482 shares of the financial services provider’s stock valued at $3,309,000 after acquiring an additional 4,924 shares during the period. Empowered Funds LLC boosted its stake in Hilltop by 5.1% during the fourth quarter. Empowered Funds LLC now owns 250,228 shares of the financial services provider’s stock worth $8,493,000 after acquiring an additional 12,100 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Hilltop in the fourth quarter worth $2,660,000. 57.13% of the stock is currently owned by institutional investors.

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.