Hilltop (NYSE:HTH) Downgraded to Underperform Rating by Raymond James

Hilltop (NYSE:HTH) was downgraded by stock analysts at Raymond James from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Thursday,Finviz reports.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Hilltop from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on Hilltop from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.50.

Hilltop Price Performance

NYSE:HTH opened at $29.44 on Thursday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 18.06 and a beta of 1.13. Hilltop has a one year low of $28.58 and a one year high of $35.66. The company’s 50-day simple moving average is $31.68 and its 200 day simple moving average is $31.58.

Hilltop (NYSE:HTH) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09. Hilltop had a return on equity of 4.90% and a net margin of 6.65%. The company had revenue of $411.49 million during the quarter, compared to analyst estimates of $302.29 million. During the same quarter last year, the company earned $0.57 EPS. On average, equities research analysts expect that Hilltop will post 1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Keith E. Bornemann sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $32.00, for a total value of $80,000.00. Following the transaction, the chief accounting officer now owns 9,124 shares of the company’s stock, valued at approximately $291,968. This trade represents a 21.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Martin Bradley Winges sold 30,851 shares of the company’s 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. 29.30% of the stock is currently owned by insiders.

Institutional Trading of Hilltop

A number of hedge funds and other institutional investors have recently bought and sold shares of HTH. 1620 Investment Advisors Inc. purchased a new stake in Hilltop in the 2nd quarter worth approximately $28,000. Louisiana State Employees Retirement System increased its stake in shares of Hilltop by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 23,300 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 400 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Hilltop by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 793,868 shares of the financial services provider’s stock valued at $24,832,000 after purchasing an additional 16,426 shares during the period. Innealta Capital LLC purchased a new position in shares of Hilltop during the 2nd quarter valued at $69,000. Finally, Versor Investments LP bought a new position in Hilltop in the 2nd quarter worth $394,000. Hedge funds and other institutional investors own 57.13% of the company’s stock.

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.