Bank of America Corp DE Purchases 129,683 Shares of Hilltop Holdings Inc. $HTH

Bank of America Corp DE lifted its position in Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 159.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 211,095 shares of the financial services provider's stock after buying an additional 129,683 shares during the period. Bank of America Corp DE owned approximately 0.36% of Hilltop worth $7,561,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Hilltop by 22.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,566 shares of the financial services provider's stock worth $53,000 after purchasing an additional 289 shares in the last quarter. Allworth Financial LP boosted its position in shares of Hilltop by 37.3% in the 4th quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider's stock worth $39,000 after purchasing an additional 313 shares in the last quarter. MQS Management LLC boosted its position in shares of Hilltop by 2.2% in the 1st quarter. MQS Management LLC now owns 16,453 shares of the financial services provider's stock worth $589,000 after purchasing an additional 353 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Hilltop by 1.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 37,559 shares of the financial services provider's stock worth $1,275,000 after buying an additional 368 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Hilltop by 36.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,817 shares of the financial services provider's stock worth $62,000 after buying an additional 483 shares during the last quarter. Institutional investors own 57.13% of the company's stock.

Analyst Ratings Changes

HTH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on Hilltop from $40.00 to $42.00 and gave the company a "market perform" rating in a research note on Wednesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Hilltop in a research note on Wednesday, August 19th. Zacks Research upgraded shares of Hilltop from a "strong sell" rating to a "strong-buy" rating in a report on Monday, May 4th. Piper Sandler reaffirmed a "neutral" rating and issued a $42.00 price objective on shares of Hilltop in a research report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Hilltop from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Hilltop presently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Insider Transactions at Hilltop

In other Hilltop news, Director Rhodes R. Bobbitt sold 20,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.12, for a total value of $802,400.00. Following the sale, the director directly owned 56,096 shares of the company's stock, valued at approximately $2,250,571.52. This represents a 26.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 62,555 shares of company stock worth $2,467,714 in the last three months. Insiders own 5.40% of the company's stock.

Hilltop Trading Down 0.3%

Shares of NYSE:HTH opened at $38.55 on Wednesday. Hilltop Holdings Inc. has a twelve month low of $30.78 and a twelve month high of $40.41. The company has a market cap of $2.21 billion, a PE ratio of 14.28 and a beta of 0.89. The company's 50 day moving average is $38.82 and its 200 day moving average is $37.80.

Hilltop (NYSE:HTH - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.49 by $0.14. The business had revenue of $315.81 million for 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 period in the prior year, the firm earned $0.57 EPS. Equities research analysts predict that Hilltop Holdings Inc. will post 2.59 earnings per share for the current fiscal year.

Hilltop Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.22 per share. This is a boost from Hilltop's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 7th. Hilltop's payout ratio is presently 32.59%.

Hilltop Profile

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.

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