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

Hilltop Holdings Inc. (NYSE:HTH)’s stock price 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 trading hands.

The financial services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.27. Hilltop had a return on equity of 4.90% and a net margin of 6.65%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Hilltop from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James lowered Hilltop from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com raised shares of Hilltop from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.50.

Insider Activity

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

Institutional Investors Weigh In On Hilltop

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its position in shares of Hilltop by 5.9% in the third quarter. Harbor Capital Advisors Inc. now owns 13,794 shares of the financial services provider’s stock worth $444,000 after buying an additional 769 shares during the period. FMR LLC increased its position in Hilltop by 36.7% in the 3rd quarter. FMR LLC now owns 3,296 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 885 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Hilltop during the 3rd quarter worth about $29,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Hilltop by 3.6% during 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 buying an additional 913 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Hilltop by 64.0% in the 4th quarter. KBC Group NV now owns 2,621 shares of the financial services provider’s stock valued at $75,000 after buying an additional 1,023 shares in the last quarter. 57.13% of the stock is owned by institutional investors.

Hilltop Stock Performance

The company’s 50 day moving average price is $29.79 and its 200 day moving average price is $31.23. The company has a market cap 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.