Engineers Gate Manager LP Has $703,000 Holdings in Hilltop Holdings Inc. $HTH

Key Points

• Engineers Gate Manager LP cut its Hilltop Holdings position by 60.3% in the second quarter, retaining 18,128 shares valued at approximately $703,000. Institutional investors collectively own 57.13% of Hilltop.
• Hilltop reported quarterly EPS of $0.63, exceeding analysts’ $0.49 estimate, while revenue reached $315.81 million. The company also increased its quarterly dividend to $0.22, equivalent to a 2.3% annual yield.
• HTH shares opened at $38.77, near their 12-month high, and analysts maintain a “Moderate Buy” consensus with an average $40 price target. Insiders, however, sold 52,555 shares worth about $2.09 million over the past 90 days.

Engineers Gate Manager LP lowered its position in shares of Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 60.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,128 shares of the financial services provider's stock after selling 27,592 shares during the quarter. Engineers Gate Manager LP's holdings in Hilltop were worth $703,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Hilltop in the 2nd quarter valued at $256,179,000. Bank of New York Mellon Corp acquired a new position in Hilltop in the second quarter valued at about $13,091,000. Empowered Funds LLC bought a new stake in shares of Hilltop in the second quarter worth about $10,357,000. Freestone Grove Partners LP bought a new stake in shares of Hilltop in the second quarter worth about $9,573,000. Finally, Bank of America Corp DE raised its position in shares of Hilltop by 159.3% during 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 period. Institutional investors own 57.13% of the company's stock.

Hilltop Stock Up 0.3%

Shares of HTH stock opened at $38.77 on Tuesday. Hilltop Holdings Inc. has a 12 month low of $30.78 and a 12 month high of $40.41. The company's fifty day simple moving average is $38.88 and its 200-day simple moving average is $37.78. The firm has a market cap of $2.22 billion, a PE ratio of 14.36 and a beta of 0.88.

Hilltop (NYSE:HTH - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating 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 net margin of 10.17% and a return on equity of 7.40%. During the same period in the previous year, the business earned $0.57 EPS. On average, equities analysts predict that Hilltop Holdings Inc. will post 2.59 earnings per share for the current fiscal year.

Hilltop Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler reiterated a "neutral" rating and issued a $42.00 price objective on shares of Hilltop in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Hilltop from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Hilltop from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Insider Activity

In related news, Director Rhodes Bobbitt sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.80, for a total transaction of $194,000.00. Following the transaction, the director directly owned 25,641 shares of the company's stock, valued at approximately $994,870.80. The trade was a 16.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 52,555 shares of company stock valued at $2,087,714 over the last ninety days. Company insiders own 5.40% of the company's stock.

Hilltop Company Profile

Hilltop Holdings Inc is a Dallas-based financial services holding company that provides banking, mortgage lending and securities services through its operating subsidiaries. Its businesses serve individuals, businesses, financial institutions, government entities and other organizations.

PlainsCapital Bank, Hilltop's banking subsidiary, offers commercial and consumer banking products, including loans, deposit accounts, treasury management and wealth management services. The bank primarily serves customers in Texas through its branch network and related financial services operations.

Hilltop's other principal businesses include PrimeLending, a residential mortgage lender that originates and services home loans through a nationwide platform, and HilltopSecurities, a broker-dealer that provides investment banking, public finance, institutional brokerage, fixed-income trading and advisory services.

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