Hilltop Holdings Inc. (NYSE:HTH) Sees Large Drop in Short Interest

Key Points

• Hilltop Holdings Inc. experienced a significant 42.9% drop in short interest, decreasing from 1,960,000 shares at the end of July to 1,120,000 shares by mid-August.
• The company announced a quarterly dividend of $0.18 per share, resulting in an annualized yield of 2.0%, with a payout ratio of 32.29%.
• Hilltop's stock price fell by 1.3% to $35.28, with the stock currently holding a market capitalization of $2.22 billion and a P/E ratio of 15.82.

Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) saw a significant drop in short interest in August. As of August 15th, there was short interest totaling 1,120,000 shares, adropof42.9% from the July 31st total of 1,960,000 shares. Based on an average daily trading volume, of 450,200 shares, the short-interest ratio is currently 2.5 days. Approximately2.6% of the company's stock are sold short. Approximately2.6% of the company's stock are sold short. Based on an average daily trading volume, of 450,200 shares, the short-interest ratio is currently 2.5 days.

Hilltop Stock Down 1.3%

HTH traded down $0.46 during trading on Friday, hitting $35.28. 464,130 shares of the stock were exchanged, compared to its average volume of 474,969. Hilltop has a 1-year low of $26.67 and a 1-year high of $36.13. The stock has a fifty day moving average price of $32.00 and a two-hundred day moving average price of $30.72. The firm has a market capitalization of $2.22 billion, a P/E ratio of 15.82 and a beta of 0.88.

Hilltop (NYSE:HTH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.57 earnings per share 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 the consensus estimate of $310.18 million. Hilltop had a return on equity of 6.46% and a net margin of 8.90%.During the same period in the prior year, the company earned $0.31 earnings per share. Analysts predict that Hilltop will post 1.51 EPS for the current year.

Hilltop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid 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 2.0%. Hilltop's payout ratio is currently 32.29%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Hilltop news, Chairman Jonathan S. Sobel purchased 10,000 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was bought at an average cost of $35.36 per share, with a total value of $353,600.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 60,000 shares of company stock valued at $2,022,800 in the last 90 days. 29.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hilltop

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. purchased a new position in shares of Hilltop during the second quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its position in Hilltop by 584.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the financial services provider's stock worth $33,000 after acquiring an additional 918 shares during the period. GAMMA Investing LLC grew its stake in shares of Hilltop by 141.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,400 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 821 shares during the last quarter. SouthState Corp acquired a new position in shares of Hilltop in the first quarter valued at approximately $56,000. Finally, CWM LLC raised its stake in shares of Hilltop by 134.4% during the first quarter. CWM LLC now owns 2,811 shares of the financial services provider's stock worth $86,000 after purchasing an additional 1,612 shares during the last quarter. 57.13% of the stock is owned by hedge funds and other institutional investors.

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.

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