Royce & Associates LP Raises Stake in Hilltop Holdings Inc. (HTH)
Royce & Associates LP lifted its position in shares of Hilltop Holdings Inc. (NYSE:HTH) by 30,534.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 163,588 shares of the financial services provider’s stock after purchasing an additional 163,054 shares during the period. Royce & Associates LP’s holdings in Hilltop were worth $4,144,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Zions Bancorporation acquired a new position in shares of Hilltop during the third quarter worth approximately $109,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Hilltop during the fourth quarter worth approximately $202,000. Victory Capital Management Inc. raised its position in shares of Hilltop by 34.7% during the third quarter. Victory Capital Management Inc. now owns 8,939 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 2,301 shares during the period. SG Americas Securities LLC raised its position in shares of Hilltop by 81.4% during the third quarter. SG Americas Securities LLC now owns 10,142 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 4,550 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Hilltop by 27.2% during the third quarter. BNP Paribas Arbitrage SA now owns 12,151 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 2,596 shares during the period. 59.18% of the stock is currently owned by institutional investors.
In related news, Director Gerald J. Ford purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was acquired at an average price of $25.08 per share, for a total transaction of $250,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.60% of the company’s stock.
Shares of Hilltop Holdings Inc. (HTH) opened at $24.59 on Friday. Hilltop Holdings Inc. has a 1-year low of $21.47 and a 1-year high of $28.86. The stock has a market capitalization of $2,324.82, a price-to-earnings ratio of 14.68 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03.
Hilltop (NYSE:HTH) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Hilltop had a return on equity of 8.46% and a net margin of 7.74%. The business had revenue of $399.15 million during the quarter, compared to the consensus estimate of $390.05 million. analysts forecast that Hilltop Holdings Inc. will post 1.88 EPS for the current fiscal year.
Hilltop announced that its Board of Directors has initiated a stock buyback program on Thursday, January 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 15th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.28 annualized dividend and a yield of 1.14%. This is an increase from Hilltop’s previous quarterly dividend of $0.06. Hilltop’s dividend payout ratio is 20.74%.
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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).
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