Empowered Funds LLC purchased a new position in Hilltop Holdings Inc. (NYSE:HTH – Free Report) in the second quarter, HoldingsChannel reports. The firm purchased 267,064 shares of the financial services provider’s stock, valued at approximately $10,357,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Wealth Advisors LLC purchased a new position in shares of Hilltop during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC increased its stake in Hilltop by 584.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the financial services provider’s stock worth $33,000 after buying an additional 918 shares in the last quarter. Allworth Financial LP raised its holdings in Hilltop by 37.3% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 313 shares during the period. Danske Bank A S purchased a new position in shares of Hilltop in the third quarter valued at about $43,000. Finally, Signaturefd LLC lifted its position in shares of Hilltop by 276.4% in the second 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. 57.13% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Hilltop
In related news, Director Rhodes R. Bobbitt sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.12, for a total value of $802,400.00. Following the sale, the director owned 56,096 shares in the company, valued at approximately $2,250,571.52. The trade was a 26.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 62,555 shares of company stock valued at $2,467,714 over the last ninety days. Company insiders own 5.40% of the company’s stock.
Hilltop Trading Down 0.2%
Hilltop (NYSE:HTH – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. The company had revenue of $315.81 million during the quarter, compared to analyst estimates of $306.18 million. Hilltop had a return on equity of 7.40% and a net margin of 10.17%.During the same period in the prior year, the company earned $0.57 earnings per share. As a group, research analysts predict that Hilltop Holdings Inc. will post 2.59 EPS for the current fiscal year.
Hilltop Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a dividend of $0.22 per share. The ex-dividend date was Friday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Hilltop’s previous quarterly dividend of $0.20. Hilltop’s dividend payout ratio is currently 32.59%.
Analyst Upgrades and Downgrades
HTH has been the subject of several research analyst reports. Zacks Research upgraded Hilltop from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Hilltop from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Piper Sandler reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Hilltop in a report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Hilltop from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hilltop in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.
View Our Latest Analysis on HTH
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.
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