Insider Selling: Hilltop (NYSE:HTH) Director Sells 20,000 Shares of Stock

Key Points

• Hilltop director Rhodes Bobbitt sold 20,000 shares at an average price of $40.12, generating $802,400. The sale reduced his ownership by 26.28% to 56,096 shares.
• Hilltop shares recently traded near their 52-week high at $39.82. The company exceeded quarterly earnings and revenue estimates, reporting $0.63 EPS and $315.81 million in revenue.
• Hilltop raised its quarterly dividend to $0.22 per share, equivalent to an annualized $0.88 payout and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus with a $40 average price target.

Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) Director Rhodes Bobbitt sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.12, for a total transaction of $802,400.00. Following the transaction, the director owned 56,096 shares in the company, valued at $2,250,571.52. This trade represents a 26.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hilltop Stock Performance

Shares of Hilltop stock traded down $0.18 during trading on Wednesday, reaching $39.82. The company had a trading volume of 242,060 shares, compared to its average volume of 257,644. Hilltop Holdings Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $40.41. The firm's fifty day moving average is $38.41 and its 200-day moving average is $37.58. The company has a market cap 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 quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.14. The business had revenue of $315.81 million during the quarter, compared to the consensus estimate of $306.18 million. Hilltop had a return on equity of 7.40% and a net margin of 10.17%.During the same period last year, the firm earned $0.57 earnings per share. On average, research analysts anticipate that Hilltop Holdings Inc. will post 2.51 EPS for the current fiscal year.

Hilltop Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Hilltop

Several large investors have recently bought and sold shares of HTH. Strategic Wealth Advisors LLC acquired a new stake in shares of Hilltop in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised 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 worth $33,000 after purchasing an additional 918 shares in the last quarter. Allworth Financial LP lifted its position in Hilltop by 37.3% in the fourth quarter. Allworth Financial LP now owns 1,153 shares of the financial services provider's stock worth $39,000 after purchasing an additional 313 shares during the period. Danske Bank A S bought a new stake in shares of Hilltop in the 3rd quarter worth $43,000. Finally, Signaturefd LLC lifted its holdings in shares of Hilltop by 276.4% in the second quarter. Signaturefd LLC now owns 1,370 shares of the financial services provider's stock valued at $53,000 after buying an additional 1,006 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source