Meeder Asset Management Inc. increased its holdings in Hilltop Holdings Inc. (NYSE:HTH) by 64.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 30,992 shares of the financial services provider’s stock after buying an additional 12,126 shares during the quarter. Meeder Asset Management Inc.’s holdings in Hilltop were worth $659,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Advisors LLC bought a new stake in Hilltop in the 2nd quarter worth about $972,000. SG Americas Securities LLC increased its holdings in Hilltop by 317.9% in the 2nd quarter. SG Americas Securities LLC now owns 120,207 shares of the financial services provider’s stock worth $2,557,000 after buying an additional 91,441 shares in the last quarter. Scout Investments Inc. increased its holdings in Hilltop by 65.0% in the 2nd quarter. Scout Investments Inc. now owns 225,699 shares of the financial services provider’s stock worth $4,801,000 after buying an additional 88,942 shares in the last quarter. Geode Capital Management LLC increased its holdings in Hilltop by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 802,187 shares of the financial services provider’s stock worth $14,302,000 after buying an additional 36,701 shares in the last quarter. Finally, Bayview Asset Management LLC bought a new stake in Hilltop in the 1st quarter worth about $14,523,000. Institutional investors own 62.09% of the company’s stock.
Several research firms recently commented on HTH. TheStreet upgraded Hilltop from a “c+” rating to a “b-” rating in a report on Friday, July 19th. Zacks Investment Research upgraded Hilltop from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Tuesday, April 30th. Finally, Stephens reiterated a “hold” rating and issued a $22.00 price objective on shares of Hilltop in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $22.50.
Hilltop stock opened at $23.30 on Thursday. The business has a 50-day simple moving average of $22.13 and a two-hundred day simple moving average of $20.19. The company has a market cap of $2.15 billion, a P/E ratio of 18.20 and a beta of 0.88. Hilltop Holdings Inc. has a 52-week low of $16.43 and a 52-week high of $23.42. The company has a quick ratio of 0.85, a current ratio of 0.99 and a debt-to-equity ratio of 0.03.
Hilltop (NYSE:HTH) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.24. The business had revenue of $420.75 million during the quarter, compared to the consensus estimate of $380.83 million. Hilltop had a return on equity of 8.02% and a net margin of 9.56%. During the same period in the previous year, the company posted $0.35 EPS. Research analysts anticipate that Hilltop Holdings Inc. will post 1.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.37%. Hilltop’s dividend payout ratio is currently 25.00%.
Hilltop Holdings Inc provides banking and financial products and services. The company operates in four segments: Banking, Broker-Dealer, Mortgage Origination, and Insurance. 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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