Hilltop Holdings Inc. (NYSE:HTH – Get Free Report) declared a quarterly dividend on Thursday, January 25th, Wall Street Journal reports. Stockholders of record on Monday, February 12th will be paid a dividend of 0.17 per share by the financial services provider on Wednesday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, February 9th. This is a boost from Hilltop’s previous quarterly dividend of $0.16.
Hilltop has raised its dividend by an average of 21.1% annually over the last three years and has raised its dividend every year for the last 7 years. Hilltop has a dividend payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Hilltop to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 37.8%.
Hilltop Price Performance
Shares of NYSE:HTH opened at $30.67 on Wednesday. Hilltop has a 12 month low of $26.78 and a 12 month high of $35.66. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 18.15 and a beta of 1.13. The stock’s 50 day moving average price is $33.21 and its 200 day moving average price is $30.67.
Insider Buying and Selling
In related news, CAO Keith E. Bornemann sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $30.04, for a total value of $75,100.00. Following the completion of the sale, the chief accounting officer now directly owns 9,722 shares in the company, valued at $292,048.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 28.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of HTH. Tower Research Capital LLC TRC raised its position in shares of Hilltop by 200.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,524 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,016 shares during the last quarter. FMR LLC raised its position in shares of Hilltop by 31.5% during the first quarter. FMR LLC now owns 1,888 shares of the financial services provider’s stock valued at $56,000 after buying an additional 452 shares during the last quarter. Royal Bank of Canada raised its position in shares of Hilltop by 29.5% during the third quarter. Royal Bank of Canada now owns 2,482 shares of the financial services provider’s stock valued at $62,000 after buying an additional 565 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Hilltop by 16.7% during the second quarter. Captrust Financial Advisors now owns 3,192 shares of the financial services provider’s stock valued at $85,000 after buying an additional 456 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Hilltop by 23.5% during the second quarter. PNC Financial Services Group Inc. now owns 2,733 shares of the financial services provider’s stock valued at $86,000 after buying an additional 520 shares during the last quarter. Institutional investors and hedge funds own 54.29% of the company’s stock.
Wall Street Analyst Weigh In
HTH has been the topic of several research analyst reports. Raymond James upgraded shares of Hilltop from an “underperform” rating to a “market perform” rating in a report on Friday, January 5th. TheStreet upgraded shares of Hilltop from a “c+” rating to a “b-” rating in a report on Friday, November 24th. Finally, StockNews.com upgraded shares of Hilltop from a “sell” rating to a “hold” rating in a report on Friday, October 20th.
Hilltop Holdings Inc provides business and consumer banking, and financial products and 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, equipment loans, agricultural and commercial real estate loans, and other loans; and commercial and industrial loans, and term and construction finance.
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