Hilltop (NYSE:HTH) Announces Earnings Results

Hilltop (NYSE:HTH) released its earnings results on Thursday. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13, FiscalAI reports. Hilltop had a net margin of 10.13% and a return on equity of 7.32%. The business had revenue of $315.81 million for the quarter, compared to analyst estimates of $306.18 million.

Hilltop Stock Down 0.8%

NYSE:HTH traded down $0.29 on Thursday, reaching $37.85. The company’s stock had a trading volume of 343,478 shares, compared to its average volume of 340,514. Hilltop has a 12-month low of $29.20 and a 12-month high of $40.41. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 14.34 and a beta of 0.88. The stock has a 50 day moving average price of $37.96 and a 200 day moving average price of $37.26.

Analysts Set New Price Targets

HTH has been the subject of a number of recent research reports. Zacks Research raised Hilltop from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen cut shares of Hilltop from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings downgraded shares of Hilltop from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Insiders Place Their Bets

In other news, CAO Keith E. Bornemann sold 2,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $38.00, for a total transaction of $76,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,912 shares in the company, valued at approximately $300,656. This represents a 20.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rhodes R. Bobbitt sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $38.00, for a total value of $380,000.00. Following the sale, the director directly owned 87,016 shares of the company’s stock, valued at $3,306,608. The trade was a 10.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,000 shares of company stock valued at $1,206,000. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Hilltop

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC acquired a new position in Hilltop during the fourth quarter worth $304,000. LPL Financial LLC acquired a new stake in shares of Hilltop in the fourth quarter valued at $327,000. Brevan Howard Capital Management LP acquired a new stake in shares of Hilltop in the third quarter valued at $255,000. Squarepoint Ops LLC purchased a new stake in shares of Hilltop in the 3rd quarter valued at $307,000. Finally, Caxton Associates LLP purchased a new stake in shares of Hilltop in the 2nd quarter valued at $310,000. 57.13% of the stock is owned by hedge funds and other institutional investors.

About Hilltop

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.