Hilltop (NYSE:HTH) Director Rhodes Bobbitt Sells 12,100 Shares

Key Points

• Director Rhodes Bobbitt sold 12,100 Hilltop shares at an average price of $40, generating $484,000; the sale reduced his holdings by 13.72% to 76,096 shares.
• Hilltop shares declined 0.4% to $39.82, while the company reported quarterly EPS of $0.63, exceeding analysts’ $0.49 estimate, and revenue of $315.81 million.
• Hilltop raised its quarterly dividend from $0.20 to $0.22 per share, implying an annualized dividend of $0.88 and a 2.2% yield; analysts’ consensus rating remains “Moderate Buy” with a $40 average price target.

Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) Director Rhodes Bobbitt sold 12,100 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $40.00, for a total transaction of $484,000.00. Following the completion of the sale, the director owned 76,096 shares of the company's stock, valued at approximately $3,043,840. This represents a 13.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hilltop Stock Down 0.4%

Hilltop stock traded down $0.18 during midday trading on Wednesday, hitting $39.82. 242,060 shares of the stock were exchanged, compared to its average volume of 257,644. Hilltop Holdings Inc. has a 52-week low of $30.25 and a 52-week high of $40.41. The business's 50-day moving average price is $38.41 and its 200-day moving average price is $37.58. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 14.75 and a beta of 0.89.

Hilltop (NYSE:HTH - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. Hilltop had a net margin of 10.17% and a return on equity of 7.40%. The firm had revenue of $315.81 million for the quarter, compared to analysts' expectations of $306.18 million. During the same quarter last year, the firm earned $0.57 EPS. On average, sell-side analysts predict that Hilltop Holdings Inc. will post 2.51 earnings per share for the current fiscal year.

Hilltop Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. This is an increase from Hilltop's previous quarterly dividend of $0.20. The ex-dividend date is Friday, August 7th. Hilltop's dividend payout ratio is 29.63%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HTH. Zacks Research raised Hilltop from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, May 4th. Weiss Ratings lowered shares of Hilltop from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of Hilltop from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Piper Sandler reaffirmed a "neutral" rating and issued a $42.00 price objective on shares of Hilltop in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Hilltop from $40.00 to $42.00 and gave the company a "market perform" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Strategic Wealth Advisors LLC bought a new position in shares of Hilltop during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC lifted its holdings in Hilltop by 584.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 918 shares during the last quarter. Allworth Financial LP lifted its holdings in Hilltop by 37.3% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 313 shares during the last quarter. Danske Bank A S bought a new position in Hilltop during the third quarter worth about $43,000. Finally, Signaturefd LLC boosted its position in Hilltop by 276.4% during the second quarter. Signaturefd LLC now owns 1,370 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,006 shares during the period. Hedge funds and other institutional investors own 57.13% of the company's stock.

Hilltop Company Profile

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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