Hilltop Holdings Inc. (NYSE:HTH – Get Free Report) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $33.18, but opened at $30.70. Hilltop shares last traded at $31.04, with a volume of 63,094 shares changing hands.
The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.16). The business had revenue of $308.92 million during the quarter, compared to analysts’ expectations of $305.38 million. Hilltop had a return on equity of 5.65% and a net margin of 8.09%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Hilltop in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Stephens reiterated an “equal weight” rating and issued a $34.00 price target on shares of Hilltop in a research note on Friday.
Insider Transactions at Hilltop
In related news, Director W Robert Nichols III sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $31.02, for a total value of $46,530.00. Following the transaction, the director now owns 9,500 shares of the company’s stock, valued at $294,690. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 28.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in Hilltop by 200.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,524 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,016 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Hilltop during the fourth quarter valued at approximately $56,000. FMR LLC raised its position in shares of Hilltop by 31.5% during the first quarter. FMR LLC now owns 1,888 shares of the financial services provider’s stock valued at $56,000 after buying an additional 452 shares during the last quarter. Royal Bank of Canada raised its position in shares of Hilltop by 29.5% during the third quarter. Royal Bank of Canada now owns 2,482 shares of the financial services provider’s stock valued at $62,000 after buying an additional 565 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Hilltop by 16.7% during the second quarter. Captrust Financial Advisors now owns 3,192 shares of the financial services provider’s stock valued at $85,000 after buying an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 54.34% of the company’s stock.
Hilltop Price Performance
The stock has a market cap of $1.98 billion, a P/E ratio of 17.53 and a beta of 1.05. The firm’s 50-day moving average price is $31.43 and its 200-day moving average price is $31.17.
Hilltop Company Profile
Hilltop Holdings Inc provides business and consumer banking, and 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, loans for purchasing and carrying securities, equipment loans, agricultural and commercial real estate loans, and other loans; and commercial and industrial loans, and term and construction finance.