Bank of New York Mellon Corp Invests $13.09 Million in Hilltop Holdings Inc. $HTH

Key Points

• Bank of New York Mellon initiated a $13.09 million position in Hilltop Holdings, acquiring 337,582 shares and owning 0.59% of the company. Institutional investors collectively hold 57.13% of Hilltop’s stock.
• Hilltop exceeded quarterly earnings expectations, reporting $0.63 EPS versus the $0.49 consensus estimate and revenue of $315.81 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $40.
• The company raised its quarterly dividend from $0.20 to $0.22 per share, equivalent to an annualized $0.88 dividend and a 2.3% yield, while insiders sold 52,555 shares worth approximately $2.09 million during the last quarter.

Bank of New York Mellon Corp bought a new stake in Hilltop Holdings Inc. (NYSE:HTH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 337,582 shares of the financial services provider's stock, valued at approximately $13,091,000. Bank of New York Mellon Corp owned 0.59% of Hilltop as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strategic Wealth Advisors LLC bought a new stake in shares of Hilltop in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Hilltop by 584.7% during 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 in the last quarter. Allworth Financial LP increased its position in Hilltop by 37.3% in the 4th quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider's stock valued at $39,000 after buying an additional 313 shares in the last quarter. Danske Bank A S bought a new position in Hilltop in the third quarter worth approximately $43,000. Finally, Signaturefd LLC increased its holdings in shares of Hilltop by 276.4% during the second 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 in the last quarter. Institutional investors own 57.13% of the company's stock.

Insider Buying and Selling at Hilltop

In other news, Director Rhodes R. Bobbitt sold 5,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $38.80, for a total value of $194,000.00. Following the sale, the director directly owned 25,641 shares of the company's stock, valued at approximately $994,870.80. This represents a 16.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 52,555 shares of company stock worth $2,087,714 in the last quarter. Corporate insiders own 5.40% of the company's stock.

Hilltop Stock Down 0.8%

NYSE HTH opened at $37.75 on Wednesday. The company has a market cap of $2.16 billion, a PE ratio of 13.98 and a beta of 0.88. Hilltop Holdings Inc. has a 52 week low of $30.78 and a 52 week high of $40.41. The firm's 50-day simple moving average is $38.86 and its two-hundred day simple moving average is $37.75.

Hilltop (NYSE:HTH - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.14. The company had revenue of $315.81 million for the quarter, compared to analysts' expectations 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 company posted $0.57 EPS. As a group, equities research analysts anticipate that Hilltop Holdings Inc. will post 2.59 EPS for the current year.

Hilltop Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HTH shares. Piper Sandler restated a "neutral" rating and set a $42.00 price objective on shares of Hilltop in a report on Tuesday, July 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Hilltop in a report on Wednesday, August 19th. Wall Street Zen cut Hilltop from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods raised their price objective on 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 Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $40.00.

Hilltop Company 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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