JPMorgan Chase & Co. lowered its holdings in Hilltop Holdings Inc. (NYSE:HTH – Get Rating) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 637,300 shares of the financial services provider's stock after selling 212,164 shares during the period. JPMorgan Chase & Co.'s holdings in Hilltop were worth $18,736,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. HWG Holdings LP bought a new stake in shares of Hilltop during the 4th quarter valued at about $54,000. Lazard Asset Management LLC boosted its position in shares of Hilltop by 17.8% during the 4th quarter. Lazard Asset Management LLC now owns 2,184 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 330 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Hilltop during the 1st quarter valued at about $236,000. Meritage Portfolio Management lifted its position in Hilltop by 11.4% in the 1st quarter. Meritage Portfolio Management now owns 8,138 shares of the financial services provider's stock worth $239,000 after buying an additional 836 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Hilltop by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 8,761 shares of the financial services provider's stock worth $258,000 after buying an additional 454 shares during the last quarter. Institutional investors own 61.18% of the company's stock.
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Analysts Set New Price Targets
HTH has been the subject of a number of recent research reports. Piper Sandler dropped their target price on Hilltop to $28.00 in a research report on Monday, July 4th. Raymond James downgraded Hilltop from a "market perform" rating to an "underperform" rating in a research report on Thursday, July 7th. Finally, StockNews.com downgraded Hilltop from a "hold" rating to a "sell" rating in a research report on Tuesday, June 14th.
Insider Activity
In other news, Director Hill A. Feinberg sold 32,500 shares of the business's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $29.69, for a total transaction of $964,925.00. Following the transaction, the director now directly owns 622,736 shares of the company's stock, valued at $18,489,031.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 22.30% of the company's stock.
Hilltop Stock Performance
Shares of HTH stock opened at $25.69 on Tuesday. Hilltop Holdings Inc. has a fifty-two week low of $25.07 and a fifty-two week high of $38.47. The stock has a 50 day moving average price of $27.77 and a two-hundred day moving average price of $28.82. The company has a market capitalization of $1.66 billion, a P/E ratio of 9.66 and a beta of 1.11.
Hilltop (NYSE:HTH – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.13. Hilltop had a return on equity of 8.78% and a net margin of 13.07%. The firm had revenue of $351.33 million during the quarter, compared to the consensus estimate of $328.25 million. As a group, equities analysts predict that Hilltop Holdings Inc. will post 1.33 earnings per share for the current year.
Hilltop Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.34%. Hilltop's dividend payout ratio (DPR) is presently 22.56%.
About Hilltop
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Hilltop Holdings Inc provides business and consumer banking, and 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, loans for purchasing and carrying securities, equipment loans and leases, agricultural and commercial real estate loans, and other loans; and commercial and industrial loans, and term and construction finance.
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