Hilltop Holdings Inc. Declares Quarterly Dividend of $0.15 (NYSE:HTH)
Hilltop Holdings Inc. (NYSE: HTH – Get a rating) declared a quarterly dividend on Thursday, October 20, Zacks reports. Shareholders of record on Friday November 11 will receive a dividend of 0.15 per share from the financial services provider on Friday November 25. This represents a dividend of $0.60 on an annualized basis and a yield of 2.18%. The ex-date of this dividend is Wednesday, November 9.
Hilltop has increased its dividend by an average of 19.7% per year for the past three years and has increased its dividend annually for the past 5 consecutive years. Hilltop has a dividend payout ratio of 39.2%, indicating that its dividend is sufficiently covered by earnings. Analysts expect Hilltop to earn $1.56 per share next year, meaning the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio. 38.5%.
Price performance at the top
Shares of NYSE HTH opened at $27.57 on Friday. Hilltop has a 1-year low of $24.18 and a 1-year high of $38.47. The company’s 50-day simple moving average is $26.50 and its two-hundred-day simple moving average is $27.62. The stock has a market capitalization of $1.78 billion, a P/E ratio of 13.72 and a beta of 1.07.
Hill (NYSE: HTH – Get a rating) last released its quarterly results on Friday, October 21. The financial services provider reported EPS of $0.50 for the quarter, beating consensus analyst estimates of $0.22 from $0.28. Hilltop had a net margin of 13.07% and a return on equity of 8.78%. In the same quarter of the previous year, the company achieved EPS of $1.15. As a group, stock analysts expect Hilltop to post earnings per share of 1.29 for the current fiscal year.
Analysts set new price targets
A number of brokerages have commented on HTH. Raymond James downgraded shares of Hilltop from a “market performer” rating to an “underperformer” rating in a Thursday, July 7, research report. Piper Sandler reduced her target price on shares of Hilltop to $28.00 in a Monday, July 4 report. To finish, StockNews.com launched a hedge on Hilltop shares in a report on Wednesday, October 12. They issued a “sell” rating on the stock.
Insider Trading at Hilltop
In other news, Director Hill A. Feinberg sold 32,500 shares of the company in a transaction that took place on Tuesday, August 16. The shares were sold at an average price of $29.69, for a total value of $964,925.00. Following the transaction, the administrator now owns 622,736 shares of the company, valued at $18,489,031.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Insiders of the company hold 22.30% of the shares of the company.
Hilltop Institutional Trading
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Hilltop by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,551,143 shares of the financial services provider worth $192,605,000 after acquiring an additional 109,157 shares during the period. State Street Corp increased its position in Hilltop by 8.9% in the first quarter. State Street Corp now owns 3,571,566 shares of the financial services provider valued at $105,004,000 after purchasing an additional 291,456 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Hilltop by 0.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,567,251 shares of the financial services provider valued at $46,077,000 after purchasing an additional 8,634 shares during the period. Capital Research Global Investors increased its position in Hilltop by 5.9% during the first quarter. Capital Research Global Investors now owns 900,000 shares of the financial services provider valued at $26,460,000 after purchasing an additional 50,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Hilltop by 197.2% during the first quarter. Goldman Sachs Group Inc. now owns 751,515 shares of the financial services provider valued at $22,094,000 after purchasing an additional 498,672 shares during the period. Hedge funds and other institutional investors hold 61.18% of the company’s shares.
Hilltop Company Profile
Hilltop Holdings Inc provides corporate and personal banking, financial products and services. It operates through three segments: Banking, Broker-Dealer and Mortgage Origination. 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, securities purchase and transportation loans, equipment loans and leases, agricultural and commercial real estate loans and other loans; and commercial and industrial loans, and term and construction financing.
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