Hilltop (NYSE:HTH) Shares Gap Up Following Strong Earnings

Hilltop Holdings Inc. (NYSE:HTH - Get Free Report) shares gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $29.80, but opened at $32.00. Hilltop shares last traded at $31.32, with a volume of 29,880 shares traded.

The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.28 by $0.27. Hilltop had a net margin of 7.04% and a return on equity of 5.18%.

Hilltop Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.18 per share. This is an increase from Hilltop's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.33%. Hilltop's dividend payout ratio (DPR) is 39.08%.

Analysts Set New Price Targets

HTH has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Hilltop from $35.00 to $34.00 and set a "market perform" rating on the stock in a report on Monday. StockNews.com upgraded Hilltop from a "sell" rating to a "hold" rating in a research note on Thursday, October 10th. Finally, Raymond James cut shares of Hilltop from a "market perform" rating to an "underperform" rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat.com, Hilltop currently has a consensus rating of "Hold" and an average target price of $34.00.

Insiders Place Their Bets

In other Hilltop news, CEO Martin Bradley Winges sold 30,851 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $32.61, for a total value of $1,006,051.11. Following the completion of the transaction, the chief executive officer now owns 77,748 shares of the company's stock, valued at $2,535,362.28. This trade represents a 28.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Keith E. Bornemann sold 2,500 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $32.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 9,124 shares in the company, valued at $291,968. The trade was a 21.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HTH. Harbor Capital Advisors Inc. increased its position in Hilltop by 5.9% during the third quarter. Harbor Capital Advisors Inc. now owns 13,794 shares of the financial services provider's stock worth $444,000 after buying an additional 769 shares in the last quarter. FMR LLC grew its holdings in shares of Hilltop by 36.7% during the 3rd quarter. FMR LLC now owns 3,296 shares of the financial services provider's stock worth $106,000 after purchasing an additional 885 shares during the period. Sunbelt Securities Inc. purchased a new stake in Hilltop during the 3rd quarter worth $29,000. The Manufacturers Life Insurance Company boosted its holdings in Hilltop by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,416 shares of the financial services provider's stock worth $826,000 after acquiring an additional 913 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Hilltop during the 4th quarter worth $27,000. Institutional investors and hedge funds own 57.13% of the company's stock.

Hilltop Trading Up 2.9 %

The business has a 50 day simple moving average of $29.70 and a two-hundred day simple moving average of $31.13. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 17.77 and a beta of 1.14.

Hilltop Company Profile

Hilltop Holdings Inc provides business and consumer banking 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, term, agricultural and commercial real estate, equipment loans, and other lending products; and mortgage, commercial and industrial loans, and term and construction finance.