Hilltop Holdings Inc. (NYSE:HTH) Stock to Pay Quarterly Dividend of $0.22

Hilltop Holdings Inc. (NYSE:HTH) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Friday, November 6th will be given a dividend of $0.22 per share by the financial services provider on Friday, November 20th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, November 6th.

Hilltop has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Hilltop has a payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hilltop to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 36.1%.

Hilltop Stock Performance

Shares of HTH stock traded down $0.47 during mid-day trading on Friday, reaching $36.81. 73,431 shares of the company were exchanged, compared to its average volume of 322,714. Hilltop has a fifty-two week low of $31.75 and a fifty-two week high of $40.41. The company has a market capitalization of $2.11 billion, a P/E ratio of 13.64 and a beta of 0.89. The business’s 50 day simple moving average is $38.07 and its 200 day simple moving average is $38.05.

Hilltop (NYSE:HTH) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.20). Hilltop had a return on equity of 7.40% and a net margin of 10.17%. The company had revenue of $309.51 million during the quarter, compared to the consensus estimate of $320.37 million. During the same quarter last year, the firm posted $0.74 EPS. On average, analysts forecast that Hilltop will post 2.55 EPS for the current year.

Analyst Ratings Changes

HTH has been the topic of several research analyst reports. Zacks Research cut Hilltop from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 7th. Weiss Ratings upgraded shares of Hilltop from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Raymond James Financial cut shares of Hilltop from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 6th. Piper Sandler reiterated a “neutral” rating and issued a $42.00 price objective on shares of Hilltop in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Hilltop from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.00.

About Hilltop

Hilltop Holdings Inc (NYSE: HTH) is a Dallas-based financial services holding company. Through its operating subsidiaries, the company provides commercial and consumer banking, mortgage lending, and securities brokerage and investment-banking services.

PlainsCapital Bank is Hilltop’s banking subsidiary and serves businesses, professionals, and individuals primarily in Texas. Its offerings include commercial and real estate lending, deposit accounts, treasury management, wealth management, and other banking services.

Hilltop also operates PrimeLending, a residential mortgage lender that originates home loans through a network of loan officers and offices across the United States.