Hilltop (NYSE:HTH) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Hilltop shares crossed above their 200-day moving average, reaching $39.06 and last trading near $38.94, compared with a 200-day average of $37.77.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $40 average price target; Keefe, Bruyette & Woods raised its target to $42.
• Hilltop beat quarterly expectations with $0.63 earnings per share versus a $0.49 estimate and increased its quarterly dividend to $0.22, or $0.88 annually.

Hilltop Holdings Inc. (NYSE:HTH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.77 and traded as high as $39.06. Hilltop shares last traded at $38.9430, with a volume of 344,809 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on HTH shares. Weiss Ratings upgraded Hilltop from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. Keefe, Bruyette & Woods raised their target price on shares of Hilltop from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 5th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $42.00 target price on shares of Hilltop in a report on Tuesday, July 28th. One investment 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 company. According to MarketBeat.com, Hilltop has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Hilltop Stock Up 0.2%

The stock has a fifty day moving average of $38.83 and a 200-day moving average of $37.77. The stock has a market cap of $2.23 billion, a PE ratio of 14.42 and a beta of 0.88.

Hilltop (NYSE:HTH - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. Hilltop had a return on equity of 7.40% and a net margin of 10.17%.The firm had revenue of $315.81 million for the quarter, compared to analysts' expectations of $306.18 million. During the same quarter in the previous year, the firm posted $0.57 EPS. Equities research analysts forecast that Hilltop Holdings Inc. will post 2.59 earnings per share for the current fiscal year.

Hilltop Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 7th. This is an increase from Hilltop's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. Hilltop's dividend payout ratio is presently 32.59%.

Insider Activity at Hilltop

In related news, Director Rhodes Bobbitt sold 5,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $38.80, for a total transaction of $194,000.00. Following the completion of the sale, the director directly owned 25,641 shares of the company's stock, valued at $994,870.80. This trade represents a 16.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 52,555 shares of company stock worth $2,087,714 in the last three months. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hilltop

Large investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in Hilltop by 156.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 81,675 shares of the financial services provider's stock worth $2,772,000 after purchasing an additional 49,859 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Hilltop by 39.8% in the 1st quarter. Principal Financial Group Inc. now owns 286,079 shares of the financial services provider's stock valued at $10,247,000 after purchasing an additional 81,448 shares in the last quarter. Bessemer Group Inc. increased its position in Hilltop by 43.3% during the 1st quarter. Bessemer Group Inc. now owns 165,263 shares of the financial services provider's stock worth $5,920,000 after purchasing an additional 49,900 shares during the period. Bank of America Corp DE increased its position in Hilltop by 159.3% during the 1st quarter. Bank of America Corp DE now owns 211,095 shares of the financial services provider's stock worth $7,561,000 after purchasing an additional 129,683 shares during the period. Finally, Deutsche Bank AG acquired a new position in Hilltop during the 2nd quarter worth approximately $2,806,000. Hedge funds and other institutional investors own 57.13% of the company's stock.

Hilltop Company Profile

Hilltop Holdings Inc is a Dallas-based financial services holding company that provides banking, mortgage lending and securities services through its operating subsidiaries. Its businesses serve individuals, businesses, financial institutions, government entities and other organizations.

PlainsCapital Bank, Hilltop's banking subsidiary, offers commercial and consumer banking products, including loans, deposit accounts, treasury management and wealth management services. The bank primarily serves customers in Texas through its branch network and related financial services operations.

Hilltop's other principal businesses include PrimeLending, a residential mortgage lender that originates and services home loans through a nationwide platform, and HilltopSecurities, a broker-dealer that provides investment banking, public finance, institutional brokerage, fixed-income trading and advisory services.

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