Zacks Investment Research Downgrades Hilltop Holdings Inc. (NYSE:HTH) to Hold
Zacks Investment Research downgraded shares of Hilltop Holdings Inc. (NYSE:HTH) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Hilltop Holdings’ shares have underperformed the industry in the last six months. The company’s second-quarter 2017 earnings surpassed the Zacks Consensus Estimate. Results benefitted from higher interest income, a slight fall in expenses and significantly lower provisions, which were partly offset by lower non-interest income. However, elevated expense levels (owing to continued investments in franchise) remain a key concern. Also, deteriorating performance of its Mortgage Origination segment is expected to hurt financials in the near-term. Nevertheless, improving loan and deposit balances along with gradually easing margin pressure should lead to improvement in interest income. Moreover, driven by strong balance sheet position, the bank is projected to continue enhancing shareholder value.”
Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of Hilltop Holdings from a c+ rating to a b rating in a research report on Wednesday, May 3rd. BidaskClub downgraded shares of Hilltop Holdings from a hold rating to a sell rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $30.00 price target on shares of Hilltop Holdings in a research report on Wednesday, April 5th. Compass Point upgraded shares of Hilltop Holdings from a neutral rating to a buy rating and set a $30.50 price target for the company in a research report on Tuesday. Finally, ValuEngine upgraded shares of Hilltop Holdings from a hold rating to a buy rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $32.08.
Shares of Hilltop Holdings (HTH) opened at 25.85 on Wednesday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 14.47 and a beta of 1.01. Hilltop Holdings has a 1-year low of $21.04 and a 1-year high of $30.60. The stock has a 50 day moving average price of $26.04 and a 200 day moving average price of $26.88.
Hilltop Holdings (NYSE:HTH) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.20. The firm had revenue of $460.67 million during the quarter, compared to the consensus estimate of $431.80 million. Hilltop Holdings had a net margin of 10.02% and a return on equity of 9.39%. During the same period last year, the business posted $0.32 earnings per share. Analysts forecast that Hilltop Holdings will post $1.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.93%. Hilltop Holdings’s payout ratio is 13.41%.
In other Hilltop Holdings news, CEO Alan B. White sold 79,025 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $26.03, for a total transaction of $2,057,020.75. Following the completion of the transaction, the chief executive officer now directly owns 216,124 shares in the company, valued at $5,625,707.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jerry Schaffner sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $25.14, for a total transaction of $188,550.00. The disclosure for this sale can be found here. 22.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Investors Inc. PA increased its position in shares of Hilltop Holdings by 19.7% in the second quarter. Federated Investors Inc. PA now owns 567,265 shares of the financial services provider’s stock valued at $14,868,000 after buying an additional 93,480 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Hilltop Holdings by 499.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,555 shares of the financial services provider’s stock valued at $250,000 after buying an additional 7,962 shares in the last quarter. Legal & General Group Plc increased its position in shares of Hilltop Holdings by 1.2% in the second quarter. Legal & General Group Plc now owns 26,051 shares of the financial services provider’s stock valued at $683,000 after buying an additional 317 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Hilltop Holdings by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 832,507 shares of the financial services provider’s stock valued at $21,820,000 after buying an additional 60,344 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Hilltop Holdings by 330.5% in the second quarter. First Trust Advisors LP now owns 74,466 shares of the financial services provider’s stock valued at $1,952,000 after buying an additional 57,170 shares in the last quarter. Institutional investors and hedge funds own 55.80% of the company’s stock.
Hilltop Holdings Company Profile
Hilltop Holdings Inc is a financial holding Company. The Company provides business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the Bank). It has three operating business units, which include PlainsCapital Corporation (PCC) (banking and mortgage origination), Hilltop Securities Holdings LLC (Securities Holdings) (broker-dealer) and PlainsCapital Company (NLC) (insurance).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hilltop Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hilltop Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.