Hilltop Holdings Inc. (NYSE:HTH) Sees Large Decline in Short Interest

Hilltop Holdings Inc. (NYSE:HTH) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,120,000 shares, a decline of 11.8% from the September 15th total of 1,270,000 shares. Based on an average daily volume of 324,900 shares, the days-to-cover ratio is currently 3.4 days. Approximately 2.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com raised Hilltop from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on shares of Hilltop from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Stephens increased their target price on shares of Hilltop from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, Hilltop presently has a consensus rating of “Hold” and a consensus price target of $34.50.

Insider Buying and Selling at Hilltop

In other news, Director Hill A. Feinberg sold 17,157 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $32.99, for a total transaction of $566,009.43. Following the completion of the sale, the director now owns 544,979 shares in the company, valued at $17,978,857.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC boosted its stake in shares of Hilltop by 12.9% in the 3rd quarter. Inspire Investing LLC now owns 12,786 shares of the financial services provider’s stock valued at $411,000 after buying an additional 1,462 shares during the period. SG Americas Securities LLC raised its holdings in Hilltop by 101.3% in the third quarter. SG Americas Securities LLC now owns 27,846 shares of the financial services provider’s stock valued at $896,000 after acquiring an additional 14,015 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Hilltop by 3.6% in the second 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 last quarter. Public Sector Pension Investment Board grew its holdings in Hilltop by 7.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 101,926 shares of the financial services provider’s stock worth $3,188,000 after acquiring an additional 7,102 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Hilltop by 43.2% in the 2nd quarter. King Luther Capital Management Corp now owns 116,099 shares of the financial services provider’s stock valued at $3,632,000 after purchasing an additional 35,017 shares during the last quarter. 57.13% of the stock is currently owned by hedge funds and other institutional investors.

Hilltop Trading Up 1.0 %

HTH stock opened at $31.58 on Tuesday. The business’s fifty day moving average price is $31.70 and its 200 day moving average price is $31.23. Hilltop has a 12-month low of $26.78 and a 12-month high of $35.66. The company has a market capitalization of $2.06 billion, a PE ratio of 18.47 and a beta of 1.13.

Hilltop (NYSE:HTH) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $283.22 million. Hilltop had a net margin of 7.10% and a return on equity of 5.30%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. Research analysts predict that Hilltop will post 1.38 EPS for the current fiscal year.

Hilltop Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, August 16th. Hilltop’s dividend payout ratio is currently 39.77%.

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.