Hilltop (NYSE:HTH) Stock Price Target Lowered at Piper Sandler

Hilltop (NYSE:HTH) had its target price trimmed by Piper Sandler from $42.00 to $36.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the stock. Raymond James Financial downgraded shares of Hilltop from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Hilltop from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Hilltop from a “strong sell” rating to a “sell” rating in a research report on Sunday, November 1st. Weiss Ratings lowered shares of Hilltop from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, November 4th. Finally, Zacks Research cut shares of Hilltop from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 7th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.00.

Hilltop Stock Performance

NYSE:HTH opened at $36.57 on Wednesday. The stock has a fifty day moving average price of $37.57 and a two-hundred day moving average price of $37.74. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.38 and a beta of 0.88. Hilltop has a 1 year low of $32.17 and a 1 year high of $40.41.

Hilltop (NYSE:HTH) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.20). Hilltop had a return on equity of 6.51% and a net margin of 9.08%. The company had revenue of $309.51 million for the quarter, compared to analysts’ expectations of $320.37 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, analysts predict that Hilltop will post 2.49 EPS for the current year.

Hilltop Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $0.22 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Hilltop’s dividend payout ratio is currently 36.67%.

Insider Buying and Selling at Hilltop

In other news, Director Rhodes Bobbitt sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.80, for a total transaction of $194,000.00. Following the completion of the transaction, the director directly owned 25,641 shares of the company’s stock, valued at $994,870.80. This trade represents a 16.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hilltop

A number of institutional investors and hedge funds have recently bought and sold shares of HTH. Focus Advisor Solutions LLC acquired a new position in shares of Hilltop in the third quarter worth $226,000. Global Retirement Partners LLC purchased a new stake in shares of Hilltop in the third quarter valued at $30,000. King Luther Capital Management Corp boosted its stake in shares of Hilltop by 0.9% during the third quarter. King Luther Capital Management Corp now owns 149,392 shares of the financial services provider’s stock valued at $5,626,000 after acquiring an additional 1,394 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Hilltop by 40.2% during the third quarter. Maryland State Retirement & Pension System now owns 8,421 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 2,416 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Hilltop by 4.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,216 shares of the financial services provider’s stock valued at $767,000 after acquiring an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 57.13% of the company’s stock.

About Hilltop

Hilltop Holdings Inc. is a Dallas-based financial holding company with businesses in banking, mortgage lending and securities. Its operations primarily serve customers in Texas and other U.S. markets. Through PlainsCapital Bank, Hilltop provides commercial and consumer banking services, including deposit accounts, loans and treasury management. PrimeLending originates residential mortgages, while HilltopSecurities offers investment banking, municipal finance, brokerage and wealth management services.