Hilltop Holdings Inc. (NYSE:HTH) Plans Dividend Increase – $0.22 Per Share

Hilltop Holdings Inc. (NYSE:HTH) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 7th will be given a dividend of 0.22 per share by the financial services provider on Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. This is a 10.0% increase from Hilltop’s previous quarterly dividend of $0.20.

Hilltop has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Hilltop has a dividend payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hilltop to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 32.8%.

Hilltop Price Performance

NYSE HTH opened at $37.85 on Friday. The stock has a market capitalization of $2.22 billion, a PE ratio of 14.34 and a beta of 0.88. Hilltop has a 1 year low of $29.20 and a 1 year high of $40.41. The business’s 50-day moving average is $37.98 and its 200 day moving average is $37.29.

Hilltop (NYSE:HTH) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. Hilltop had a return on equity of 7.32% and a net margin of 10.13%.The company had revenue of $315.81 million for the quarter, compared to the consensus estimate of $306.18 million. During the same quarter in the previous year, the business earned $0.57 EPS. As a group, equities research analysts anticipate that Hilltop will post 2.33 earnings per share for the current year.

Insider Activity

In related news, Director Rhodes R. Bobbitt sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $38.00, for a total transaction of $380,000.00. Following the completion of the sale, the director owned 87,016 shares in the company, valued at approximately $3,306,608. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Keith E. Bornemann sold 2,000 shares of Hilltop 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 transaction, the chief accounting officer owned 7,912 shares in the company, valued at $300,656. This represents a 20.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,000 shares of company stock valued at $1,206,000 over the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Hilltop

Several hedge funds have recently modified their holdings of HTH. Strategic Wealth Advisors LLC purchased a new stake in shares of Hilltop during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 918 shares during the period. Allworth Financial LP lifted its stake in shares of Hilltop by 37.3% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 313 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Hilltop during the third quarter valued at $43,000. Finally, Signaturefd LLC boosted its position in Hilltop by 276.4% in the 2nd quarter. Signaturefd LLC now owns 1,370 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,006 shares during the period. Hedge funds and other institutional investors own 57.13% of the company’s stock.

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.