Jacobs Levy Equity Management Inc. Has $16.65 Million Stock Position in Hilltop Holdings Inc. $HTH

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Hilltop Holdings by 38.6%, owning 546,882 shares worth approximately $16.65 million as of the latest SEC filing.
• Hilltop Holdings recently reported an EPS of $0.57 for the last quarter, exceeding estimates, but had a revenue of $303.31 million, falling short of the projected $310.18 million.
• The company declared a quarterly dividend of $0.18, representing a 2.0% yield and a payout ratio of 32.29%.

Jacobs Levy Equity Management Inc. grew its position in Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 38.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 546,882 shares of the financial services provider's stock after buying an additional 152,358 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.85% of Hilltop worth $16,653,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SouthState Corp bought a new stake in shares of Hilltop in the 1st quarter valued at about $56,000. CWM LLC raised its holdings in Hilltop by 134.4% in the 1st quarter. CWM LLC now owns 2,811 shares of the financial services provider's stock valued at $86,000 after acquiring an additional 1,612 shares during the period. KBC Group NV raised its holdings in Hilltop by 18.7% in the 1st quarter. KBC Group NV now owns 3,111 shares of the financial services provider's stock valued at $95,000 after acquiring an additional 490 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Hilltop in the 1st quarter valued at about $170,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Hilltop during the 4th quarter worth approximately $193,000. 57.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Jonathan S. Sobel bought 10,000 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of $35.36 per share, for a total transaction of $353,600.00. Following the completion of the transaction, the chairman directly owned 127,429 shares of the company's stock, valued at approximately $4,505,889.44. This represents a 8.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 60,000 shares of company stock valued at $2,022,800 in the last quarter. Company insiders own 29.90% of the company's stock.

Hilltop Stock Performance

Shares of NYSE HTH traded down $0.23 during trading hours on Friday, hitting $34.76. 93,957 shares of the stock were exchanged, compared to its average volume of 412,159. The company has a market cap of $2.19 billion, a PE ratio of 15.59 and a beta of 0.88. The company's fifty day simple moving average is $32.29 and its two-hundred day simple moving average is $30.82. Hilltop Holdings Inc. has a 1-year low of $26.67 and a 1-year high of $36.13.

Hilltop (NYSE:HTH - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.16. Hilltop had a net margin of 8.90% and a return on equity of 6.46%. The firm had revenue of $303.31 million for the quarter, compared to analyst estimates of $310.18 million. During the same quarter last year, the business posted $0.31 earnings per share. As a group, sell-side analysts expect that Hilltop Holdings Inc. will post 1.51 EPS for the current fiscal year.

Hilltop Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.18 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.1%. Hilltop's dividend payout ratio (DPR) is currently 32.29%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Hilltop from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $32.00.

Hilltop Profile

Hilltop Holdings Inc provides business and consumer banking services. It operates through three segments: Banking, Broker-Dealer, and Mortgage Origination. The Banking segment offers savings, checking, interest-bearing checking, and money market accounts; certificates of deposit; lines and letters of credit, home improvement and equity loans, loans for purchasing and carrying securities, term, agricultural and commercial real estate, equipment loans, and other lending products; and mortgage, commercial and industrial loans, and term and construction finance.