Hilltop (NYSE:HTH) Shares Up 4% After Better-Than-Expected Earnings

Hilltop Holdings Inc. (NYSE:HTH)’s share price shot up 4% on Friday following a stronger than expected earnings report. The stock traded as high as $30.45 and last traded at $30.21. 56,994 shares changed hands during trading, a decline of 81% from the average session volume of 304,096 shares. The stock had previously closed at $29.05.

The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. Hilltop had a net margin of 7.00% and a return on equity of 5.20%. The business had revenue of $285.24 million for the quarter, compared to analyst estimates of $274.55 million. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year.

Hilltop Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.17 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.68 annualized dividend and a yield of 2.27%. Hilltop’s payout ratio is 40.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TheStreet downgraded shares of Hilltop from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Raymond James raised shares of Hilltop from an “underperform” rating to a “market perform” rating in a research report on Friday, January 5th.

Insider Buying and Selling at Hilltop

In other news, Director Hill A. Feinberg sold 3,000 shares of Hilltop 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 approximately $435,734.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Hilltop news, CEO Martin Bradley Winges sold 30,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $30.83, for a total value of $924,900.00. Following the sale, the chief executive officer now directly owns 98,934 shares in the company, valued at $3,050,135.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the director now owns 13,776 shares in the company, valued at approximately $435,734.88. The disclosure for this sale can be found here. Company insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Hilltop

Several hedge funds have recently added to or reduced their stakes in HTH. Vanguard Group Inc. grew its holdings in shares of Hilltop by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,551,143 shares of the financial services provider’s stock worth $192,605,000 after buying an additional 109,157 shares in the last quarter. State Street Corp grew its stake in Hilltop by 8.9% in the first quarter. State Street Corp now owns 3,571,566 shares of the financial services provider’s stock valued at $105,004,000 after purchasing an additional 291,456 shares in the last quarter. North Reef Capital Management LP grew its stake in Hilltop by 46.9% in the third quarter. North Reef Capital Management LP now owns 2,525,000 shares of the financial services provider’s stock valued at $71,609,000 after purchasing an additional 806,091 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Hilltop by 0.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,567,251 shares of the financial services provider’s stock valued at $46,077,000 after buying an additional 8,634 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Hilltop by 2.9% in the first quarter. Geode Capital Management LLC now owns 904,157 shares of the financial services provider’s stock valued at $26,826,000 after buying an additional 25,268 shares during the last quarter. Institutional investors and hedge funds own 57.13% of the company’s stock.

Hilltop Price Performance

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 17.75 and a beta of 1.12. The stock has a 50-day moving average price of $30.54 and a 200-day moving average price of $30.95.

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.