Hilltop (NYSE:HTH) to Repurchase $50.00 million in Shares

Hilltop (NYSE:HTH) announced that its board has approved a share buyback program, which permits the company to buyback $50.00 million in outstanding shares on Thursday, January 25th, EventVestor reports. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Hilltop (NYSE:HTH) opened at $24.12 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.99. Hilltop has a 12-month low of $21.47 and a 12-month high of $29.54. The stock has a market capitalization of $2,353.48, a P/E ratio of 17.87 and a beta of 1.09.

Hilltop (NYSE:HTH) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The company had revenue of $399.15 million during the quarter, compared to the consensus estimate of $390.05 million. Hilltop had a return on equity of 8.48% and a net margin of 7.74%. analysts predict that Hilltop will post 2.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Hilltop’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.16%. Hilltop’s payout ratio is 17.78%.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Hilltop from a “sell” rating to a “hold” rating and set a $30.00 target price on the stock in a research report on Wednesday, January 10th. Piper Jaffray Companies restated a “hold” rating and issued a $30.00 price target on shares of Hilltop in a research report on Thursday, October 19th. Stephens lowered Hilltop from an “overweight” rating to an “equal weight” rating in a report on Monday, January 29th. Finally, ValuEngine raised Hilltop from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $33.50.

In other news, Director Gerald J. Ford acquired 10,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was acquired at an average cost of $25.08 per share, for a total transaction of $250,800.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.50% of the company’s stock.

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Hilltop Company Profile

Hilltop Holdings Inc is a financial holding Company. The Company provides business and consumer banking services from offices located throughout Texas through PlainsCapital Bank (the Bank). It has three operating business units, which include PlainsCapital Corporation (PCC) (banking and mortgage origination), Hilltop Securities Holdings LLC (Securities Holdings) (broker-dealer) and PlainsCapital Company (NLC) (insurance).

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