The Alaska State Department of Revenue reduced its position in Hilltop Holdings Inc. (NYSE: HTH – Get Rating) by 1.5% in Q1, HoldingsChannel.com reports. The fund held 42,426 shares of the financial services provider after selling 625 shares during the quarter. The Alaska State Department of Revenue’s holdings in Hilltop were worth $1,247,000 when it was last filed with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of HTH. Nordea Investment Management AB increased its position in Hilltop by 1.3% during the first quarter. Nordea Investment Management AB now owns 247,698 shares of the financial services provider valued at $7,448,000 after purchasing an additional 3,126 shares during the period. Diversified Trust Co increased its position in Hilltop by 16.5% during the first quarter. Diversified Trust Co now owns 11,685 shares of the financial services provider valued at $344,000 after purchasing an additional 1,658 shares during the period. Westwood Holdings Group Inc. increased its position in Hilltop by 28.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 932,919 shares of the financial services provider valued at $32,783,000 after purchasing an additional 208,314 shares during the period. Forum Financial Management LP bought a new position in Hilltop during the fourth quarter worth approximately $840,000. Finally, HWG Holdings LP bought a new position in Hilltop during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors hold 63.52% of the company’s shares.
Several equity research analysts commented on the stock. StockNews.com downgraded shares of Hilltop from a “hold” rating to a “sell” rating in a Tuesday, June 14 report. TheStreet downgraded shares of Hilltop from a ‘b’ rating to a ‘c+’ rating in a Friday, April 22 report. Finally, Piper Sandler lowered her price target on shares of Hilltop to $28.00 in a report on Monday.
Hilltop shares opened at $27.35 on Tuesday. Hilltop Holdings Inc. has a 12-month low of $25.07 and a 12-month high of $38.47. The company has a market capitalization of $2.17 billion, a price/earnings ratio of 8.00 and a beta of 1.10. The company’s 50-day moving average price is $28.54 and its 200-day moving average price is $30.86.
Hilltop (NYSE:HTH – Get Rating) last announced its quarterly results on Thursday, April 21. The financial services provider reported earnings per share (EPS) of $0.28 for the quarter, missing analyst consensus estimates of $0.51 per ($0.23). Hilltop had a return on equity of 11.01% and a net margin of 16.15%. The company posted revenue of $316.42 million in the quarter, compared to $376.49 million expected by analysts. During the same period a year earlier, the company posted earnings per share of $1.46. The company’s quarterly revenue decreased 39.5% compared to the same quarter last year. As a group, equity research analysts expect Hilltop Holdings Inc. to post EPS of 1.51 for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.15. This represents a dividend of $0.60 on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Thursday, May 12. Hilltop’s payout ratio is 17.54%.
About Hilltop (Get a rating)
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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