Hilltop Holdings Inc. (HTH) Raised to Buy at Zacks Investment Research
Hilltop Holdings Inc. (NYSE:HTH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $26.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 11.54% from the stock’s current price.
According to Zacks, “Hilltop Holdings has been able to grow on the back of recent acquisitions. Also, prudent capital management has strengthened operating and competitive efficiencies. In addition, the company’s balance sheet, free cash flow, capital ratios and investment portfolio are strong and should support long-term growth. Additionally, PlainsCapital Bank’s sturdy fundamentals, PrimeLending’s focus on purchase business and strong National Lloyds bode well for the long term. Nevertheless, Hilltop remains exposed to catastrophic events, volatility in interest rates, high competition and economic volatility. The company's third quarter earnings estimates stand at $0.53 per share which translates into year over year growth of 12%.”
A number of other brokerages have also commented on HTH. FBR & Co reaffirmed a “hold” rating and issued a $20.50 target price on shares of Hilltop Holdings in a research report on Friday, July 29th. TheStreet lowered Hilltop Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods boosted their target price on Hilltop Holdings from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Hilltop Holdings has an average rating of “Buy” and an average price target of $25.00.
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Hilltop Holdings (NYSE:HTH) traded down 2.23% during mid-day trading on Thursday, reaching $22.79. The company’s stock had a trading volume of 136,514 shares. The firm has a 50 day moving average price of $22.50 and a 200 day moving average price of $21.08. Hilltop Holdings has a 52-week low of $14.28 and a 52-week high of $23.68. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 17.90 and a beta of 0.48.
Hilltop Holdings (NYSE:HTH) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.06. Hilltop Holdings had a return on equity of 7.20% and a net margin of 7.58%. During the same period in the prior year, the business earned $0.30 earnings per share.
In other Hilltop Holdings news, insider Jerry Schaffner sold 5,000 shares of Hilltop Holdings stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $22.36, for a total transaction of $111,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its position in Hilltop Holdings by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,977,158 shares of the company’s stock worth $37,329,000 after buying an additional 6,231 shares during the period. Cambiar Investors LLC acquired a new position in shares of Hilltop Holdings during the second quarter worth $27,034,000. HBK Investments L P increased its position in shares of Hilltop Holdings by 30.8% in the first quarter. HBK Investments L P now owns 34,395 shares of the company’s stock worth $649,000 after buying an additional 8,095 shares during the last quarter. BlackRock Inc. increased its position in shares of Hilltop Holdings by 77.3% in the first quarter. BlackRock Inc. now owns 5,276 shares of the company’s stock worth $100,000 after buying an additional 2,301 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Hilltop Holdings during the second quarter worth $3,822,000. Institutional investors and hedge funds own 53.89% 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 Corporation (the Bank). It has three operating business units, which include PlainsCapital (banking and mortgage origination), Hilltop Securities Holdings LLC (Securities Holdings) and National Lloyds Corporation (NLC).
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