Basswood Capital Management L.L.C. Cuts Holdings in Hilltop Holdings Inc. (HTH)

Basswood Capital Management L.L.C. cut its stake in shares of Hilltop Holdings Inc. (NYSE:HTH) by 45.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,004,175 shares of the financial services provider’s stock after selling 834,421 shares during the period. Hilltop accounts for 1.1% of Basswood Capital Management L.L.C.’s holdings, making the stock its 29th largest position. Basswood Capital Management L.L.C. owned about 1.06% of Hilltop worth $17,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. FMR LLC lifted its position in Hilltop by 2.4% during the third quarter. FMR LLC now owns 6,832,993 shares of the financial services provider’s stock worth $137,822,000 after acquiring an additional 162,562 shares during the last quarter. Vanguard Group Inc lifted its position in Hilltop by 1.3% during the third quarter. Vanguard Group Inc now owns 6,368,046 shares of the financial services provider’s stock worth $128,443,000 after acquiring an additional 78,963 shares during the last quarter. Vanguard Group Inc. lifted its position in Hilltop by 1.3% during the third quarter. Vanguard Group Inc. now owns 6,368,046 shares of the financial services provider’s stock worth $128,443,000 after acquiring an additional 78,963 shares during the last quarter. BlackRock Inc. lifted its position in Hilltop by 2.1% during the fourth quarter. BlackRock Inc. now owns 5,143,781 shares of the financial services provider’s stock worth $91,714,000 after acquiring an additional 104,101 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Hilltop by 231.6% during the third quarter. American Century Companies Inc. now owns 1,013,389 shares of the financial services provider’s stock worth $20,440,000 after acquiring an additional 707,794 shares during the last quarter. Hedge funds and other institutional investors own 59.79% of the company’s stock.

HTH has been the subject of a number of analyst reports. Compass Point reiterated a “buy” rating and issued a $21.50 price target (down from $25.00) on shares of Hilltop in a research report on Monday, January 28th. Zacks Investment Research downgraded shares of Hilltop from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. ValuEngine downgraded shares of Hilltop from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. Finally, Stephens reiterated a “hold” rating and issued a $19.00 price target on shares of Hilltop in a research report on Friday, January 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Hilltop currently has a consensus rating of “Hold” and an average target price of $21.50.

NYSE HTH opened at $17.78 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 0.87. Hilltop Holdings Inc. has a 1-year low of $16.43 and a 1-year high of $25.70. The company has a market capitalization of $1.66 billion, a PE ratio of 13.89 and a beta of 0.84.

Hilltop (NYSE:HTH) last released its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). Hilltop had a net margin of 7.58% and a return on equity of 6.24%. The business had revenue of $356.23 million during the quarter, compared to analyst estimates of $367.43 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, sell-side analysts anticipate that Hilltop Holdings Inc. will post 1.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Friday, February 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Hilltop’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, February 14th. Hilltop’s payout ratio is presently 25.00%.

In related news, CEO Alan B. White sold 8,657 shares of Hilltop stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $19.40, for a total value of $167,945.80. Following the transaction, the chief executive officer now directly owns 214,150 shares of the company’s stock, valued at $4,154,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan B. White sold 69,029 shares of Hilltop stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $19.36, for a total transaction of $1,336,401.44. Following the completion of the transaction, the chief executive officer now directly owns 214,150 shares in the company, valued at $4,145,944. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by insiders.

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Hilltop Company Profile

Hilltop Holdings Inc provides banking and financial products and services. The company operates in four segments: Banking, Broker-Dealer, Mortgage Origination, and Insurance. The 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 and industrial loans, and term and construction finance.

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Institutional Ownership by Quarter for Hilltop (NYSE:HTH)

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