Hilltop (NYSE:HTH) Announces Quarterly Earnings Results

Hilltop (NYSE:HTH) posted its quarterly earnings results on Thursday. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.20), FiscalAI reports. Hilltop had a return on equity of 7.40% and a net margin of 10.17%. The firm had revenue of $309.51 million for the quarter, compared to analysts’ expectations of $320.37 million.

Hilltop Price Performance

Shares of NYSE:HTH opened at $37.29 on Friday. Hilltop has a fifty-two week low of $31.75 and a fifty-two week high of $40.41. The business has a 50-day moving average of $38.07 and a two-hundred day moving average of $38.05. The stock has a market capitalization of $2.14 billion, a P/E ratio of 13.52 and a beta of 0.89.

Hilltop Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, November 6th. Hilltop’s dividend payout ratio (DPR) is 32.59%.

Wall Street Analyst Weigh In

HTH has been the subject of several recent research reports. Piper Sandler reissued a “neutral” rating and issued a $42.00 price target on shares of Hilltop in a research note on Tuesday, July 28th. Raymond James Financial downgraded Hilltop from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 6th. Zacks Research lowered shares of Hilltop from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 7th. Weiss Ratings upgraded shares of Hilltop from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Hilltop from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Insider Activity

In other news, Director Rhodes Bobbitt sold 5,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $38.80, for a total transaction of $194,000.00. Following the transaction, the director owned 25,641 shares of the company’s stock, valued at approximately $994,870.80. This represents a 16.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 52,555 shares of company stock worth $2,087,714. Corporate insiders own 5.40% of the company’s stock.

More Hilltop News

Here are the key news stories impacting Hilltop this week:

• Positive Sentiment: Hilltop declared a quarterly cash dividend of $0.22 per share, payable November 20 to shareholders of record November 6. The continued payout may support income-focused investors. Hilltop Holdings third-quarter financial results
• Positive Sentiment: Net interest income rose to $122.4 million from $112.4 million a year earlier, while net interest margin improved to 3.33% from 3.21% in the second quarter, signaling better core banking profitability.
• Positive Sentiment: The company repurchased approximately 512,000 shares for $20.0 million during the quarter, which can enhance per-share value and indicates management’s willingness to return capital. Hilltop Holdings reports third-quarter diluted EPS
• Neutral Sentiment: Mortgage loan origination volume was relatively stable at $2.2 billion, compared with $2.3 billion in the year-ago quarter. Total assets were $16.2 billion and deposits were $11.0 billion.
• Negative Sentiment: Third-quarter earnings fell to $0.44 per diluted share from $0.74 a year earlier and missed the $0.64 consensus estimate by $0.20. Net income attributable to common stockholders declined to $24.9 million from $45.8 million. Hilltop Holdings Q3 earnings and revenues miss estimates
• Negative Sentiment: Revenue of approximately $309.5 million was below the roughly $320.4 million analyst expectation. Noninterest income dropped 14.1% year over year to $187.1 million, while the provision for credit losses increased to $10.2 million from a $2.5 million reversal in the prior-year quarter.

Hilltop Company Profile

Hilltop Holdings Inc (NYSE: HTH) is a Dallas-based financial services holding company. Through its operating subsidiaries, the company provides commercial and consumer banking, mortgage lending, and securities brokerage and investment-banking services.

PlainsCapital Bank is Hilltop’s banking subsidiary and serves businesses, professionals, and individuals primarily in Texas. Its offerings include commercial and real estate lending, deposit accounts, treasury management, wealth management, and other banking services.

Hilltop also operates PrimeLending, a residential mortgage lender that originates home loans through a network of loan officers and offices across the United States.