Hilltop (NYSE:HTH) Shares Gap Up Following Strong Earnings

Shares of Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $29.29, but opened at $30.65. Hilltop shares last traded at $28.92, with a volume of 80,984 shares trading hands.

The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.37. The business had revenue of $318.46 million for the quarter, compared to the consensus estimate of $290.68 million. Hilltop had a net margin of 7.04% and a return on equity of 5.18%. During the same quarter in the prior year, the company earned $0.42 EPS.

Hilltop Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, May 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.47%. Hilltop's dividend payout ratio (DPR) is presently 36.55%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HTH shares. Keefe, Bruyette & Woods decreased their target price on Hilltop from $34.00 to $32.00 and set a "market perform" rating for the company in a research note on Wednesday. Raymond James raised shares of Hilltop from an "underperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd.

Institutional Trading of Hilltop

A number of hedge funds have recently modified their holdings of HTH. Barclays PLC increased its stake in Hilltop by 112.9% during the 3rd quarter. Barclays PLC now owns 106,619 shares of the financial services provider's stock worth $3,428,000 after acquiring an additional 56,537 shares during the period. JPMorgan Chase & Co. grew its stake in Hilltop by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 480,557 shares of the financial services provider's stock worth $15,455,000 after buying an additional 15,346 shares in the last quarter. Monument Group Wealth Advisors LLC acquired a new position in shares of Hilltop in the 4th quarter valued at approximately $331,000. Inspire Investing LLC increased its stake in Hilltop by 9.4% in the fourth quarter. Inspire Investing LLC now owns 13,982 shares of the financial services provider's stock valued at $400,000 after acquiring an additional 1,196 shares during the last quarter. Finally, KBC Group NV lifted its stake in Hilltop by 64.0% during the fourth quarter. KBC Group NV now owns 2,621 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,023 shares during the last quarter. Institutional investors and hedge funds own 57.13% of the company's stock.

Hilltop Trading Down 0.3 %

The company has a market cap of $1.89 billion, a P/E ratio of 16.78 and a beta of 1.00. The company has a 50 day moving average price of $30.02 and a 200-day moving average price of $30.44.

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.