Beacon Pointe Advisors LLC Acquires Shares of 94,876 Hilltop Holdings Inc. $HTH

Key Points

• Beacon Pointe Advisors initiated a position in Hilltop Holdings by purchasing 94,876 shares valued at approximately $3.68 million, representing 0.17% of the company. Institutional investors collectively own 57.13% of Hilltop.
• Analyst sentiment is generally positive, with Hilltop carrying a “Moderate Buy” consensus rating and a $40 average price target. Recent ratings range from Strong Buy to Sell, while Keefe, Bruyette & Woods raised its target to $42.
• Hilltop beat quarterly earnings expectations, reporting $0.63 in EPS versus the $0.49 consensus and revenue of $315.81 million. The company also increased its quarterly dividend to $0.22 per share, equivalent to an annualized yield of about 2.3%.

Beacon Pointe Advisors LLC purchased a new position in Hilltop Holdings Inc. (NYSE:HTH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 94,876 shares of the financial services provider's stock, valued at approximately $3,679,000. Beacon Pointe Advisors LLC owned 0.17% of Hilltop at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HTH. Thrivent Financial for Lutherans lifted its position in shares of Hilltop by 156.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 81,675 shares of the financial services provider's stock worth $2,772,000 after purchasing an additional 49,859 shares during the period. Principal Financial Group Inc. boosted its stake in Hilltop by 39.8% in the first quarter. Principal Financial Group Inc. now owns 286,079 shares of the financial services provider's stock valued at $10,247,000 after acquiring an additional 81,448 shares in the last quarter. Bessemer Group Inc. grew its holdings in Hilltop by 43.3% in the first quarter. Bessemer Group Inc. now owns 165,263 shares of the financial services provider's stock worth $5,920,000 after purchasing an additional 49,900 shares during the last quarter. Bank of America Corp DE grew its holdings in Hilltop by 159.3% in the first quarter. Bank of America Corp DE now owns 211,095 shares of the financial services provider's stock worth $7,561,000 after purchasing an additional 129,683 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Hilltop by 53.5% during the first quarter. First Trust Advisors LP now owns 84,304 shares of the financial services provider's stock worth $3,020,000 after purchasing an additional 29,395 shares in the last quarter. 57.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Rhodes R. Bobbitt sold 5,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $38.80, for a total value of $194,000.00. Following the transaction, the director owned 25,641 shares in the company, valued at approximately $994,870.80. This represents a 16.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 62,555 shares of company stock valued at $2,467,714 in the last 90 days. 5.40% of the stock is owned by corporate insiders.

Hilltop Stock Performance

Shares of HTH opened at $38.49 on Friday. The stock has a 50-day moving average of $38.88 and a two-hundred day moving average of $37.79. Hilltop Holdings Inc. has a one year low of $30.78 and a one year high of $40.41. The stock has a market cap of $2.21 billion, a P/E ratio of 14.26 and a beta of 0.89.

Hilltop (NYSE:HTH - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.14. Hilltop had a return on equity of 7.40% and a net margin of 10.17%.The business had revenue of $315.81 million for the quarter, compared to analyst estimates of $306.18 million. During the same period in the prior year, the company earned $0.57 earnings per share. Analysts predict that Hilltop Holdings Inc. will post 2.59 EPS for the current fiscal year.

Hilltop Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.22 dividend. This is an increase 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 currently 32.59%.

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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