Bank of New York Mellon Corp lifted its holdings in shares of Hilltop Holdings Inc. (NYSE:HTH) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 821,568 shares of the financial services provider’s stock after acquiring an additional 15,460 shares during the period. Bank of New York Mellon Corp owned 0.86% of Hilltop worth $20,811,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Hodges Capital Management Inc. raised its position in shares of Hilltop by 4.4% during the 4th quarter. Hodges Capital Management Inc. now owns 1,196,372 shares of the financial services provider’s stock worth $30,304,000 after acquiring an additional 50,820 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Hilltop during the 3rd quarter worth about $28,694,000. NWQ Investment Management Company LLC raised its position in shares of Hilltop by 8.9% during the 3rd quarter. NWQ Investment Management Company LLC now owns 843,808 shares of the financial services provider’s stock worth $21,939,000 after acquiring an additional 68,955 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Hilltop by 13.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 401,721 shares of the financial services provider’s stock worth $10,521,000 after acquiring an additional 47,121 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Hilltop by 6.6% during the 3rd quarter. Stifel Financial Corp now owns 394,662 shares of the financial services provider’s stock worth $10,276,000 after acquiring an additional 24,572 shares in the last quarter. 60.17% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Gerald J. Ford bought 10,000 shares of the stock in a transaction on Friday, December 22nd. The shares were bought at an average cost of $25.08 per share, for a total transaction of $250,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 22.50% of the company’s stock.
Several equities research analysts have recently weighed in on HTH shares. ValuEngine raised Hilltop from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Stephens downgraded Hilltop from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 29th. Piper Jaffray Companies restated a “hold” rating on shares of Hilltop in a research note on Friday, February 23rd. Finally, Zacks Investment Research downgraded Hilltop from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.50.
Hilltop stock opened at $25.27 on Thursday. The stock has a market capitalization of $2,413.13, a P/E ratio of 18.72 and a beta of 1.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 1.01. Hilltop Holdings Inc. has a 12 month low of $21.47 and a 12 month high of $28.86.
Hilltop (NYSE:HTH) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $399.15 million for the quarter, compared to the consensus estimate of $390.05 million. Hilltop had a return on equity of 8.46% and a net margin of 7.74%. analysts expect that Hilltop Holdings Inc. will post 2.01 earnings per share for the current fiscal year.
Hilltop declared that its Board of Directors has authorized a stock repurchase plan on Thursday, January 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 15th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Wednesday, February 14th. This is an increase from Hilltop’s previous quarterly dividend of $0.06. Hilltop’s dividend payout ratio (DPR) is currently 20.74%.
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Hilltop Holdings Inc provides banking and financial products and services. Its 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, equipment loans and leases, agricultural and commercial real estate loans, and other loans; and commercial, industrial, and single family residential mortgage loans.
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