Hilltop Holdings Inc. (NYSE:HTH – Get Free Report) declared a quarterly dividend on Thursday, April 18th, NASDAQ reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.17 per share by the financial services provider on Friday, May 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, May 9th.
Hilltop has increased its dividend by an average of 21.1% annually over the last three years and has raised its dividend every year for the last 7 years. Hilltop has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hilltop to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 37.8%.
Hilltop Stock Up 3.3 %
Shares of Hilltop stock opened at $30.00 on Friday. Hilltop has a fifty-two week low of $26.78 and a fifty-two week high of $35.66. The firm has a market cap of $1.95 billion, a PE ratio of 17.75 and a beta of 1.12. The business’s fifty day moving average is $30.54 and its two-hundred day moving average is $30.95.
Insider Activity at Hilltop
In related news, Director Hill A. Feinberg sold 3,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $31.63, for a total value of $94,890.00. Following the completion of the sale, the director now directly owns 13,776 shares in the company, valued at approximately $435,734.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Hill A. Feinberg sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $31.63, for a total transaction of $94,890.00. Following the completion of the sale, the director now directly owns 13,776 shares in the company, valued at $435,734.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martin Bradley Winges sold 30,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $30.83, for a total value of $924,900.00. Following the sale, the chief executive officer now owns 98,934 shares of the company’s stock, valued at $3,050,135.22. The disclosure for this sale can be found here. 28.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Hilltop
Several large investors have recently modified their holdings of HTH. Norges Bank bought a new position in shares of Hilltop during the fourth quarter worth about $15,124,000. Goldman Sachs Group Inc. lifted its position in shares of Hilltop by 197.2% during the first quarter. Goldman Sachs Group Inc. now owns 751,515 shares of the financial services provider’s stock worth $22,094,000 after purchasing an additional 498,672 shares during the last quarter. Millennium Management LLC lifted its position in shares of Hilltop by 111.4% during the second quarter. Millennium Management LLC now owns 704,273 shares of the financial services provider’s stock worth $18,776,000 after purchasing an additional 371,133 shares during the last quarter. State Street Corp lifted its position in shares of Hilltop by 8.9% during the first quarter. State Street Corp now owns 3,571,566 shares of the financial services provider’s stock worth $105,004,000 after purchasing an additional 291,456 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Hilltop in the first quarter worth about $8,184,000. Institutional investors own 57.13% of the company’s stock.
Analyst Ratings Changes
HTH has been the subject of a number of research analyst reports. TheStreet downgraded Hilltop from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th. Raymond James upgraded Hilltop from an “underperform” rating to a “market perform” rating in a report on Friday, January 5th.
Read Our Latest Analysis on Hilltop
Hilltop Company Profile
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.
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