Bank of Montreal Can decreased its stake in Hilltop Holdings Inc. (NYSE:HTH) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 210,252 shares of the financial services provider’s stock after selling 5,271 shares during the quarter. Bank of Montreal Can’s holdings in Hilltop were worth $4,241,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of Hilltop by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 375,586 shares of the financial services provider’s stock worth $8,290,000 after buying an additional 10,836 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Hilltop in the second quarter worth about $588,000. Carillon Tower Advisers Inc. boosted its position in shares of Hilltop by 6.8% in the second quarter. Carillon Tower Advisers Inc. now owns 131,459 shares of the financial services provider’s stock worth $2,901,000 after buying an additional 8,384 shares during the period. SG Americas Securities LLC boosted its position in shares of Hilltop by 44.8% in the second quarter. SG Americas Securities LLC now owns 9,928 shares of the financial services provider’s stock worth $219,000 after buying an additional 3,071 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Hilltop by 23.3% in the second quarter. Royce & Associates LP now owns 706,022 shares of the financial services provider’s stock worth $15,582,000 after buying an additional 133,475 shares during the period. 59.37% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on HTH shares. ValuEngine raised Hilltop from a “strong sell” rating to a “sell” rating in a research report on Friday, August 17th. Zacks Investment Research downgraded Hilltop from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 28th. Compass Point raised Hilltop from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, July 31st. SunTrust Banks decreased their target price on Hilltop from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Finally, Raymond James raised Hilltop from an “underperform” rating to a “market perform” rating in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.60.
In related news, insider Keith E. Bornemann sold 1,500 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $20.68, for a total value of $31,020.00. Following the completion of the transaction, the insider now owns 8,270 shares of the company’s stock, valued at $171,023.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.30% of the company’s stock.
Shares of HTH opened at $19.99 on Friday. The stock has a market capitalization of $1.88 billion, a P/E ratio of 12.04 and a beta of 0.96. Hilltop Holdings Inc. has a one year low of $17.16 and a one year high of $28.32. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 0.03.
Hilltop (NYSE:HTH) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). The business had revenue of $380.04 million during the quarter, compared to analysts’ expectations of $385.07 million. Hilltop had a net margin of 6.55% and a return on equity of 7.00%. On average, research analysts anticipate that Hilltop Holdings Inc. will post 1.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 14th. Hilltop’s dividend payout ratio is currently 16.87%.
Hilltop Company Profile
Hilltop Holdings Inc provides banking and financial products and services. Its 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, industrial, and single family residential mortgage loans.
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