Trexquant Investment LP Grows Position in Hilltop Holdings Inc. $HTH

Key Points

• Trexquant Investment LP increased its stake in Hilltop Holdings Inc. by 82.6%, owning 81,748 shares valued at approximately $2.49 million as of the latest SEC filing.
• Hilltop recently reported earnings of $0.57 EPS, exceeding analysts' estimates, despite revenues of $303.31 million being below the expected $310.18 million.
• The company declared a quarterly dividend of $0.18, representing an annual yield of 2.1%, with a dividend payout ratio of 32.29%.

Trexquant Investment LP grew its holdings in shares of Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 82.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,748 shares of the financial services provider's stock after purchasing an additional 36,984 shares during the period. Trexquant Investment LP owned approximately 0.13% of Hilltop worth $2,489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SouthState Corp acquired a new stake in Hilltop during the 1st quarter valued at $56,000. CWM LLC increased 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 buying an additional 1,612 shares during the period. KBC Group NV boosted its stake in shares of 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 purchasing an additional 490 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Hilltop during the 1st quarter valued at about $170,000. Finally, Garrett Wealth Advisory Group LLC acquired a new stake in Hilltop during the 1st quarter worth approximately $201,000. 57.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hilltop

In other Hilltop news, Chairman Jonathan S. Sobel bought 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was acquired at an average cost of $35.36 per share, with a total value of $353,600.00. Following the completion of the purchase, the chairman directly owned 127,429 shares in the company, valued at approximately $4,505,889.44. This trade represents a 8.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have bought 60,000 shares of company stock worth $2,022,800. 29.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Hilltop from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.00.

Hilltop Stock Performance

HTH stock traded down $0.16 during midday trading on Monday, reaching $35.10. 267,718 shares of the company traded hands, compared to its average volume of 413,572. The business has a 50 day moving average of $32.00 and a 200-day moving average of $30.71. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 15.74 and a beta of 0.87. Hilltop Holdings Inc. has a 52-week low of $26.67 and a 52-week high of $36.13.

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

Hilltop Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued 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 payout ratio is currently 32.29%.

About Hilltop

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.