Hilltop (NYSE:HTH) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Hilltop Holdings Inc. (NYSE:HTH) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $36.48 and traded as high as $38.18. Hilltop shares last traded at $37.91, with a volume of 217,592 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HTH shares. Wall Street Zen downgraded Hilltop from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded Hilltop from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded Hilltop from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Hilltop Stock Up 1.4%

The stock has a market capitalization of $2.25 billion, a P/E ratio of 14.54 and a beta of 0.88. The company has a fifty day simple moving average of $37.33 and a two-hundred day simple moving average of $36.49.

Hilltop (NYSE:HTH) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. Hilltop had a return on equity of 7.32% and a net margin of 10.13%.The business had revenue of $300.51 million for the quarter, compared to the consensus estimate of $304.87 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. As a group, equities analysts forecast that Hilltop Holdings Inc. will post 2.33 earnings per share for the current year.

Hilltop Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, May 8th. Hilltop’s dividend payout ratio is presently 30.30%.

Insiders Place Their Bets

In other news, CAO Keith E. Bornemann sold 2,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the transaction, the chief accounting officer owned 7,912 shares of the company’s stock, valued at $300,656. This represents a 20.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rhodes R. Bobbitt sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. Following the completion of the transaction, the director directly owned 87,016 shares in the company, valued at approximately $3,306,608. The trade was a 10.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,000 shares of company stock worth $1,206,000 in the last ninety days. Insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Hilltop

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in shares of Hilltop by 236.4% during the first quarter. Millennium Management LLC now owns 461,206 shares of the financial services provider’s stock valued at $14,044,000 after buying an additional 324,108 shares during the period. Two Sigma Investments LP lifted its position in Hilltop by 106.9% during the third quarter. Two Sigma Investments LP now owns 493,802 shares of the financial services provider’s stock valued at $16,503,000 after purchasing an additional 255,141 shares during the period. Freestone Grove Partners LP purchased a new stake in Hilltop during the third quarter valued at approximately $8,337,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Hilltop by 37.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 711,802 shares of the financial services provider’s stock worth $23,788,000 after purchasing an additional 194,287 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Hilltop by 32.0% in the first quarter. Goldman Sachs Group Inc. now owns 796,277 shares of the financial services provider’s stock worth $24,247,000 after purchasing an additional 192,991 shares in the last quarter. Hedge funds and other institutional investors own 57.13% of the company’s stock.

Hilltop Company Profile

Hilltop Holdings, Inc (NYSE: HTH) is a Dallas, Texas–based financial holding company offering commercial banking, mortgage lending and capital markets services through its three primary subsidiaries: PlainsCapital Corporation, PrimeLending and HilltopSecurities. PlainsCapital provides deposit, lending and treasury management solutions to small and mid-sized businesses, professionals and individuals. PrimeLending specializes in home purchase and refinance loans, serving retail, wholesale and correspondent channels.