Hilltop Holdings Inc. (NYSE:HTH) Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC reduced its holdings in shares of Hilltop Holdings Inc. (NYSE:HTH) by 16.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 35,413 shares of the financial services provider’s stock after selling 7,085 shares during the quarter. Tectonic Advisors LLC’s holdings in Hilltop were worth $1,139,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its position in Hilltop by 187.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,286 shares of the financial services provider’s stock valued at $16,443,000 after buying an additional 333,695 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new position in shares of Hilltop in the third quarter valued at about $203,000. Inspire Investing LLC increased its holdings in shares of Hilltop by 12.9% in the third quarter. Inspire Investing LLC now owns 12,786 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 1,462 shares during the period. SG Americas Securities LLC increased its holdings in shares of Hilltop by 101.3% in the third quarter. SG Americas Securities LLC now owns 27,846 shares of the financial services provider’s stock valued at $896,000 after purchasing an additional 14,015 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Hilltop by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 26,416 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 913 shares during the period. 57.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HTH. Keefe, Bruyette & Woods increased their price objective on Hilltop from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Stephens increased their price objective on Hilltop from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, StockNews.com raised Hilltop from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hilltop has a consensus rating of “Hold” and an average price target of $34.50.

Hilltop Stock Down 1.1 %

Shares of HTH opened at $30.22 on Friday. Hilltop Holdings Inc. has a 52 week low of $26.96 and a 52 week high of $35.66. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 17.67 and a beta of 1.13. The stock’s 50-day moving average price is $31.82 and its 200-day moving average price is $31.26.

Hilltop (NYSE:HTH) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Hilltop had a return on equity of 5.30% and a net margin of 7.10%. The firm had revenue of $411.49 million for the quarter, compared to the consensus estimate of $302.29 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. As a group, equities analysts anticipate that Hilltop Holdings Inc. will post 1.38 EPS for the current fiscal year.

Hilltop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.25%. Hilltop’s payout ratio is 39.77%.

Insiders Place Their Bets

In other Hilltop news, Director Hill A. Feinberg sold 17,157 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $32.99, for a total transaction of $566,009.43. Following the transaction, the director now owns 544,979 shares in the company, valued at approximately $17,978,857.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.90% of the stock is currently owned by company insiders.

Hilltop Company Profile

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.