Rhodes Bobbitt Sells 10,000 Shares of Hilltop (NYSE:HTH) Stock

Hilltop Holdings Inc. (NYSE:HTH) Director Rhodes Bobbitt sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.50, for a total value of $395,000.00. Following the completion of the transaction, the director directly owned 45,641 shares in the company, valued at approximately $1,802,819.50. The trade was a 17.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hilltop Price Performance

Shares of NYSE HTH opened at $39.04 on Wednesday. The stock has a fifty day moving average price of $38.76 and a 200 day moving average price of $37.78. Hilltop Holdings Inc. has a 1-year low of $30.78 and a 1-year high of $40.41. The company has a market cap of $2.24 billion, a PE ratio of 14.46 and a beta of 0.89.

Hilltop (NYSE:HTH) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. Hilltop had a net margin of 10.17% and a return on equity of 7.40%. The company had revenue of $315.81 million for the quarter, compared to analysts’ expectations of $306.18 million. During the same period in the previous year, the company posted $0.57 EPS. Analysts anticipate that Hilltop Holdings Inc. will post 2.59 earnings per share for the current fiscal year.

Hilltop Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.22 per share. This is an increase from Hilltop’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. Hilltop’s dividend payout ratio is currently 32.59%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HTH shares. Zacks Research raised Hilltop from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings downgraded Hilltop from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 22nd. 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 increased their price objective on Hilltop from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded Hilltop from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Strategic Wealth Advisors LLC purchased a new stake in shares of Hilltop during the 4th quarter worth approximately $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 valued at $33,000 after purchasing an additional 918 shares in the last quarter. Allworth Financial LP increased its stake in Hilltop by 37.3% in the 4th quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 313 shares in the last quarter. Danske Bank A S acquired a new position in Hilltop during the third quarter worth $43,000. Finally, Signaturefd LLC raised its holdings in Hilltop by 276.4% during the second quarter. Signaturefd LLC now owns 1,370 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 1,006 shares during the last quarter. 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.