BlackRock Inc. Acquires New Holdings in Hilltop Holdings Inc. $HTH

BlackRock Inc. bought a new position in Hilltop Holdings Inc. (NYSE:HTH - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,605,966 shares of the financial services provider's stock, valued at approximately $256,179,000. BlackRock Inc. owned 11.53% of Hilltop as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Wealth Advisors LLC bought a new stake in Hilltop during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its stake in Hilltop by 584.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the financial services provider's stock valued at $33,000 after buying an additional 918 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Hilltop by 37.3% in the fourth 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 during the period. Danske Bank A S acquired a new position in shares of Hilltop in the third quarter valued at approximately $43,000. Finally, Signaturefd LLC increased its position 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 worth $53,000 after acquiring an additional 1,006 shares in the last quarter. 57.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Zacks Research raised Hilltop from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods boosted their target price on Hilltop from $40.00 to $42.00 and gave the company a "market perform" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded Hilltop from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Hilltop in a research note on Wednesday, August 19th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $42.00 price objective on shares of Hilltop in a report on Tuesday, July 28th. One equities 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. Based on data from MarketBeat.com, Hilltop currently has an average rating of "Moderate Buy" and an average target price of $40.00.

Hilltop Price Performance

Shares of NYSE HTH opened at $38.65 on Thursday. The business has a 50-day moving average of $38.85 and a 200-day moving average of $37.79. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 14.31 and a beta of 0.89. Hilltop Holdings Inc. has a fifty-two week low of $30.78 and a fifty-two week high of $40.41.

Hilltop (NYSE:HTH - Get Free Report) last released its earnings results 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. 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 quarter in the prior year, the company posted $0.57 earnings per share. On average, sell-side analysts expect that Hilltop Holdings Inc. will post 2.59 EPS for the current year.

Hilltop Increases Dividend

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

Insider Activity at Hilltop

In related news, Director Rhodes R. Bobbitt sold 5,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 25,641 shares of the company's stock, valued at approximately $994,870.80. This trade represents a 16.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 62,555 shares of company stock valued at $2,467,714. Corporate insiders own 5.40% of the company's stock.

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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