Hilltop (NYSE:HTH) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Key Points

• Hilltop beat quarterly expectations, reporting EPS of $0.62 versus the consensus estimate of $0.49. Revenue also came in above forecasts at $315.81 million compared with $306.18 million expected.
• The stock slipped modestly after the report, with HTH shares down 0.8% to $37.85 in mid-day trading. The move came despite trading volume running roughly in line with the average.
• Insiders have been selling shares, including director Rhodes R. Bobbitt and CAO Keith E. Bornemann, with total insider sales over the past 90 days reaching 32,000 shares valued at $1.206 million.

Hilltop (NYSE:HTH - Get Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13, FiscalAI reports. The business had revenue of $315.81 million during the quarter, compared to the consensus estimate of $306.18 million. Hilltop had a net margin of 10.13% and a return on equity of 7.32%.

Hilltop Stock Down 0.8%

Shares of HTH stock traded down $0.29 during mid-day trading on Thursday, hitting $37.85. 343,478 shares of the stock were exchanged, compared to its average volume of 340,514. Hilltop has a 52-week low of $29.20 and a 52-week high of $40.41. The firm has a fifty day moving average of $37.96 and a 200 day moving average of $37.26. The company has a market cap of $2.22 billion, a PE ratio of 14.34 and a beta of 0.88.

Insider Activity at Hilltop

In other Hilltop news, Director Rhodes R. Bobbitt sold 10,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. Following the completion of the transaction, the director directly owned 87,016 shares in the company, valued at approximately $3,306,608. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Keith E. Bornemann sold 2,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the transaction, the chief accounting officer directly owned 7,912 shares in the company, valued at approximately $300,656. The trade was a 20.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 32,000 shares of company stock valued at $1,206,000. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in shares of Hilltop by 236.4% during the first quarter. Millennium Management LLC now owns 461,206 shares of the financial services provider's stock valued at $14,044,000 after acquiring an additional 324,108 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Hilltop by 106.9% in the third quarter. Two Sigma Investments LP now owns 493,802 shares of the financial services provider's stock worth $16,503,000 after acquiring an additional 255,141 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Hilltop in the third quarter worth approximately $8,337,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Hilltop by 37.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 711,802 shares of the financial services provider's stock worth $23,788,000 after buying an additional 194,287 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Hilltop by 32.0% in the first quarter. Goldman Sachs Group Inc. now owns 796,277 shares of the financial services provider's stock valued at $24,247,000 after buying an additional 192,991 shares during the last quarter. Institutional investors and hedge funds own 57.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HTH. Weiss Ratings cut shares of Hilltop from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of Hilltop from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Zacks Research raised Hilltop from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.50.

About Hilltop

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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