Cornercap Investment Counsel Inc. decreased its holdings in Hilltop Holdings Inc. (NYSE:HTH) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,250 shares of the financial services provider’s stock after selling 2,875 shares during the quarter. Cornercap Investment Counsel Inc. owned 0.06% of Hilltop worth $1,475,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Asset Management Inc. lifted its holdings in Hilltop by 75.0% during the third quarter. Rothschild Asset Management Inc. now owns 139,188 shares of the financial services provider’s stock valued at $3,619,000 after purchasing an additional 59,670 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Hilltop by 8.4% during the third quarter. Prudential Financial Inc. now owns 623,015 shares of the financial services provider’s stock valued at $16,198,000 after purchasing an additional 48,270 shares in the last quarter. Stifel Financial Corp lifted its holdings in Hilltop by 6.6% during the third quarter. Stifel Financial Corp now owns 394,662 shares of the financial services provider’s stock valued at $10,276,000 after purchasing an additional 24,572 shares in the last quarter. American Century Companies Inc. purchased a new position in Hilltop during the third quarter valued at approximately $4,516,000. Finally, Allianz Asset Management GmbH purchased a new position in Hilltop during the third quarter valued at approximately $28,694,000. 60.17% of the stock is currently owned by institutional investors.
In related news, Director Gerald J. Ford bought 10,000 shares of the stock in a transaction dated Friday, December 22nd. The shares were purchased at an average price of $25.08 per share, with a total value of $250,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 22.50% of the stock is currently owned by insiders.
Hilltop (NYSE:HTH) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Hilltop had a net margin of 7.74% and a return on equity of 8.46%. The firm had revenue of $399.15 million for the quarter, compared to the consensus estimate of $390.05 million. equities research analysts forecast that Hilltop Holdings Inc. will post 2.01 EPS for the current fiscal year.
Hilltop declared that its board has approved a stock repurchase program 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 buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Wednesday, February 14th. This is an increase from Hilltop’s previous quarterly dividend of $0.06. Hilltop’s payout ratio is 20.74%.
Several brokerages have weighed in on HTH. Stephens downgraded shares of Hilltop from an “overweight” rating to an “equal weight” rating in a report on Monday, January 29th. Zacks Investment Research raised shares of Hilltop from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a report on Wednesday, January 10th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $30.00 price target on shares of Hilltop in a report on Sunday, January 28th. Finally, ValuEngine raised shares of Hilltop from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.50.
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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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