Deutsche Bank AG Takes Position in Hilltop Holdings Inc. $HTH

Key Points

• Deutsche Bank acquired 72,365 shares of Hilltop Holdings in the second quarter, valued at approximately $2.8 million, while institutional investors collectively owned 57.13% of the company.
• Hilltop exceeded quarterly earnings expectations, reporting $0.63 EPS versus the $0.49 consensus estimate and revenue of $315.81 million. The company also raised its quarterly dividend to $0.22 per share, implying a 2.3% annualized yield.
• Hilltop shares opened at $38.51, near the company’s 12-month high of $40.41. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $40, although insiders sold $2.47 million of stock over the past three months.

Deutsche Bank AG purchased a new position in shares of Hilltop Holdings Inc. (NYSE:HTH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 72,365 shares of the financial services provider's stock, valued at approximately $2,806,000. Deutsche Bank AG owned about 0.13% of Hilltop as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada grew its position in shares of Hilltop by 41.9% in the first quarter. Royal Bank of Canada now owns 10,818 shares of the financial services provider's stock valued at $330,000 after purchasing an additional 3,192 shares during the period. AQR Capital Management LLC grew its stake in shares of Hilltop by 623.7% during the 1st quarter. AQR Capital Management LLC now owns 79,654 shares of the financial services provider's stock valued at $2,425,000 after buying an additional 68,648 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Hilltop by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,846 shares of the financial services provider's stock valued at $848,000 after buying an additional 1,362 shares during the period. Millennium Management LLC increased its holdings in shares of Hilltop by 236.4% during the 1st quarter. Millennium Management LLC now owns 461,206 shares of the financial services provider's stock worth $14,044,000 after buying an additional 324,108 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Hilltop by 32.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 796,277 shares of the financial services provider's stock worth $24,247,000 after buying an additional 192,991 shares during the last quarter. 57.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Rhodes R. Bobbitt sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $40.12, for a total value of $802,400.00. Following the completion of the transaction, the director directly owned 56,096 shares of the company's stock, valued at $2,250,571.52. This represents a 26.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders 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 Hilltop stock opened at $38.51 on Friday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 14.26 and a beta of 0.89. Hilltop Holdings Inc. has a twelve month low of $30.78 and a twelve month high of $40.41. The business's 50 day simple moving average is $38.87 and its 200-day simple moving average is $37.79.

Hilltop (NYSE:HTH - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.14. The firm had revenue of $315.81 million for the quarter, compared to analyst estimates of $306.18 million. Hilltop had a return on equity of 7.40% and a net margin of 10.17%.During the same period last year, the company earned $0.57 earnings per share. Sell-side analysts predict that Hilltop Holdings Inc. will post 2.59 earnings per share for the current year.

Hilltop Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders 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 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, August 7th. Hilltop's payout ratio is presently 32.59%.

Analyst Ratings Changes

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

About Hilltop

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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