Hilltop (NYSE:HTH) Stock Moved Down to Underperform by Raymond James Financial

Key Points

• Raymond James downgraded Hilltop from “market perform” to “underperform,” while the broader analyst consensus remains “Hold” with an average price target of $40.00.
• Hilltop shares opened at $38.12, below the consensus target, despite the company beating quarterly expectations with $0.63 EPS versus $0.49 expected and revenue of $315.81 million.
• Insiders have been net sellers, including a director’s $802,400 stock sale, while institutional investors own 57.13% of Hilltop’s shares.

Hilltop (NYSE:HTH - Get Free Report) was downgraded by equities research analysts at Raymond James Financial from a "market perform" rating to an "underperform" rating in a report issued on Tuesday, MarketBeat.com reports.

Several other analysts also recently issued reports on HTH. Piper Sandler reissued a "neutral" rating and issued a $42.00 price target on shares of Hilltop in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price target 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, Weiss Ratings upgraded shares of Hilltop from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hilltop has an average rating of "Hold" and an average target price of $40.00.

Hilltop Stock Performance

Shares of HTH opened at $38.12 on Tuesday. The firm has a market cap of $2.18 billion, a P/E ratio of 14.12 and a beta of 0.89. Hilltop has a twelve month low of $30.78 and a twelve month high of $40.41. The firm's 50 day moving average price is $38.80 and its two-hundred day moving average price is $37.94.

Hilltop (NYSE:HTH - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.14. The company had revenue of $315.81 million during the quarter, compared to the consensus estimate of $306.18 million. Hilltop had a net margin of 10.17% and a return on equity of 7.40%. During the same quarter in the prior year, the firm earned $0.57 earnings per share. On average, sell-side analysts anticipate that Hilltop will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Hilltop

In related news, Director Rhodes Bobbitt sold 20,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.12, for a total transaction of $802,400.00. Following the transaction, the director directly owned 56,096 shares in the company, valued at approximately $2,250,571.52. The trade was a 26.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 52,555 shares of company stock valued at $2,087,714 over the last three months. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HTH. Strategic Wealth Advisors LLC acquired a new position in shares of Hilltop in the second quarter valued at $33,000. Signaturefd LLC raised its holdings 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 acquiring an additional 1,006 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Hilltop during the second quarter worth approximately $62,000. Allworth Financial LP bought a new position in shares of Hilltop during the second quarter worth approximately $65,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Hilltop during the 2nd quarter worth approximately $88,000. 57.13% of the stock is currently owned by institutional investors and hedge funds.

About Hilltop

Hilltop Holdings Inc is a Dallas, Texas-based financial services holding company that provides banking, mortgage lending and securities services through its subsidiaries. The company primarily serves individuals, businesses, government entities and institutional clients, with operations focused largely on the United States and particularly the Texas market.

PlainsCapital Bank, Hilltop's banking subsidiary, offers commercial and consumer banking products, including loans, deposit accounts, treasury management and other financial services.

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