Hilltop (NYSE:HTH) Shares Gap Up After Better-Than-Expected Earnings

Hilltop Holdings Inc. (NYSE:HTH) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $29.80, but opened at $32.00. Hilltop shares last traded at $31.32, with a volume of 29,880 shares.

The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.27. Hilltop had a net margin of 6.65% and a return on equity of 4.90%.

Wall Street Analyst Weigh In

HTH has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Hilltop from $34.00 to $35.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James cut Hilltop from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com upgraded Hilltop from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.50.

Insider Activity at Hilltop

In other news, CEO Martin Bradley Winges sold 30,851 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $32.61, for a total value of $1,006,051.11. Following the completion of the sale, the chief executive officer now directly owns 77,748 shares of the company’s stock, valued at $2,535,362.28. This trade represents a 28.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Keith E. Bornemann sold 2,500 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $32.00, for a total transaction of $80,000.00. Following the sale, the chief accounting officer now owns 9,124 shares in the company, valued at $291,968. The trade was a 21.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hilltop

A number of hedge funds and other institutional investors have recently modified their holdings of HTH. Harbor Capital Advisors Inc. raised its holdings in Hilltop by 5.9% during the third quarter. Harbor Capital Advisors Inc. now owns 13,794 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 769 shares during the last quarter. FMR LLC raised its stake in shares of Hilltop by 36.7% during the 3rd quarter. FMR LLC now owns 3,296 shares of the financial services provider’s stock worth $106,000 after buying an additional 885 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Hilltop in the 3rd quarter worth about $29,000. The Manufacturers Life Insurance Company grew its stake in Hilltop by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,416 shares of the financial services provider’s stock valued at $826,000 after acquiring an additional 913 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Hilltop by 64.0% in the fourth quarter. KBC Group NV now owns 2,621 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,023 shares in the last quarter. 57.13% of the stock is currently owned by institutional investors and hedge funds.

Hilltop Stock Performance

The company has a 50-day moving average of $29.79 and a 200-day moving average of $31.23. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 19.17 and a beta of 1.15.

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.