Hilltop (NYSE:HTH) Sets New 52-Week High - Time to Buy?

Key Points

• Hilltop Holdings Inc. hit a new 52-week high of $35.58 during trading, closing at $35.33 with a volume of 412,600 shares.
• The company recently announced a quarterly dividend of $0.18 per share, representing a 2.0% yield, to be paid on August 29th.
• Insider activity increased with Chairman Jonathan Sobel purchasing 10,000 shares at an average price of $34.75, raising his ownership stake by 10.26%.

Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $35.58 and last traded at $35.33, with a volume of 412600 shares changing hands. The stock had previously closed at $35.17.

Analysts Set New Price Targets

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

Hilltop Price Performance

The firm's fifty day moving average price is $31.49 and its two-hundred day moving average price is $30.58. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 15.75 and a beta of 0.87.

Hilltop (NYSE:HTH - Get Free Report) last announced 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. 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 in the prior year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Hilltop Holdings Inc. will post 1.51 earnings per share for the current year.

Hilltop Dividend Announcement

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

Insider Buying and Selling at Hilltop

In other Hilltop news, Chairman Jonathan S. Sobel bought 10,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average price of $35.36 per share, for a total transaction 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. The trade was a 8.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 60,000 shares of company stock valued at $2,022,800. Corporate insiders own 29.90% of the company's stock.

Institutional Investors Weigh In On Hilltop

Institutional investors and hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. acquired a new stake in shares of Hilltop in the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of Hilltop by 584.7% in 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 last quarter. GAMMA Investing LLC increased its stake in 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 buying an additional 821 shares during the last quarter. SouthState Corp purchased a new stake in Hilltop in the 1st quarter valued at about $56,000. Finally, CWM LLC increased its stake 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 last quarter. Institutional investors and hedge funds own 57.13% of the company's stock.

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.