Hodges Capital Management Inc. Sells 78,739 Shares of Hilltop Holdings Inc. $HTH

Hodges Capital Management Inc. trimmed its holdings in Hilltop Holdings Inc. (NYSE:HTH) by 27.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 208,314 shares of the financial services provider’s stock after selling 78,739 shares during the quarter. Hodges Capital Management Inc.’s holdings in Hilltop were worth $6,322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in Hilltop by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 829,412 shares of the financial services provider’s stock worth $25,256,000 after purchasing an additional 3,225 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Hilltop by 32.0% during the first quarter. Goldman Sachs Group Inc. now owns 796,277 shares of the financial services provider’s stock valued at $24,247,000 after purchasing an additional 192,991 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Hilltop by 38.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 546,882 shares of the financial services provider’s stock valued at $16,653,000 after buying an additional 152,358 shares during the last quarter. Millennium Management LLC boosted its position in Hilltop by 236.4% during the 1st quarter. Millennium Management LLC now owns 461,206 shares of the financial services provider’s stock valued at $14,044,000 after buying an additional 324,108 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in Hilltop by 3.6% in the 1st quarter. Bridgeway Capital Management LLC now owns 364,113 shares of the financial services provider’s stock worth $11,087,000 after acquiring an additional 12,585 shares during the last quarter. Institutional investors own 57.13% of the company’s stock.

Hilltop Price Performance

Shares of HTH opened at $32.98 on Monday. The company has a 50-day simple moving average of $33.43 and a two-hundred day simple moving average of $31.70. The firm has a market capitalization of $2.02 billion, a PE ratio of 13.14 and a beta of 0.91. Hilltop Holdings Inc. has a one year low of $26.67 and a one year high of $36.13.

Hilltop (NYSE:HTH) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.25. The firm had revenue of $330.20 million for the quarter, compared to the consensus estimate of $309.68 million. Hilltop had a return on equity of 7.18% and a net margin of 9.86%.During the same quarter in the prior year, the business earned $0.46 EPS. Analysts expect that Hilltop Holdings Inc. will post 1.51 EPS for the current fiscal year.

Hilltop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be issued a $0.18 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.72 dividend on an annualized basis and a yield of 2.2%. Hilltop’s dividend payout ratio is 28.69%.

Analyst Ratings Changes

Several equities analysts have recently commented on HTH shares. Zacks Research raised shares of Hilltop from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Stephens upped their price target on Hilltop from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. Wall Street Zen upgraded Hilltop from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hilltop in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling at Hilltop

In other Hilltop news, Chairman Jonathan S. Sobel bought 10,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average price of $35.36 per share, for a total transaction of $353,600.00. Following the acquisition, the chairman owned 127,429 shares in the company, valued at approximately $4,505,889.44. This represents a 8.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steve B. Thompson sold 11,687 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $31.09, for a total transaction of $363,348.83. Following the completion of the sale, the chief executive officer directly owned 109,638 shares in the company, valued at $3,408,645.42. This represents a 9.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired 60,000 shares of company stock valued at $2,022,800 in the last three months. Insiders own 29.90% of the company’s stock.

About Hilltop

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.