Martin Bradley Winges, CEO of Hilltop Securities, a subsidiary of Hilltop Holdings Inc . (NYSE:HTH), recently sold 30,851 shares of common stock. The shares were sold at a weighted average price of $32.61, resulting in a total transaction value of approximately $1,006,051. Following this sale, Winges retains ownership of 77,748 shares. The shares were sold in multiple transactions with prices ranging from $32.56 to $32.69.
In other recent news, Hilltop Holdings reported a mixed bag of financial results for the third quarter of 2024. The company's net income was approximately $30 million, with earnings per diluted share at $0.46. Despite a decline in average loans, PlainsCapital Bank, a significant contributor to Hilltop Holdings' earnings, reported a pre-tax income of $48 million. However, PrimeLending faced a pre-tax loss due to a drop in origination volume and a valuation adjustment. Hilltop Securities, on the other hand, generated $17 million in pre-tax income on $124 million in net revenues.
These recent developments also highlight the company's strong capital position, as evidenced by the return of $11 million to shareholders in dividends. Despite the mixed Q3 results, Hilltop Holdings remains committed to prudent growth and improving efficiencies in a challenging market environment. The company is optimistic about improved mortgage origination volumes in 2025 and is focused on managing interest-bearing deposit costs effectively. These are some of the recent developments at Hilltop Holdings, with more updates expected in the coming months.
InvestingPro Insights
Following the recent stock sale by Hilltop Securities' CEO, Martin Bradley Winges, it's worth examining some key financial metrics and insights provided by InvestingPro for Hilltop Holdings Inc. (NYSE:HTH).
As of the latest data, Hilltop Holdings has a market capitalization of $2.12 billion, with a price-to-earnings (P/E) ratio of 20.04. This P/E ratio is slightly lower when adjusted for the last twelve months, standing at 19.78. Interestingly, the company's price-to-book ratio is 0.98, suggesting that the stock is trading close to its book value.
One of the standout features of Hilltop Holdings is its commitment to shareholder returns. According to InvestingPro Tips, the company has raised its dividend for 9 consecutive years and has maintained dividend payments for the same period. This consistent dividend growth is particularly noteworthy in the financial services sector, where stability is highly valued. The current dividend yield stands at 2.09%, which may be attractive to income-focused investors.
Despite a slight decline in revenue growth, with a -0.7% change over the last twelve months, Hilltop Holdings remains profitable. The company's operating income margin is a healthy 12.79%, indicating efficient operations. Moreover, InvestingPro Tips highlight that analysts predict the company will be profitable this year, which aligns with its track record of profitability over the last twelve months.
It's worth noting that while the company has shown strength in many areas, InvestingPro Tips also point out that Hilltop Holdings suffers from weak gross profit margins. This could be an area for potential improvement and may be something investors want to monitor going forward.
For those interested in a more comprehensive analysis, InvestingPro offers additional insights with 6 more tips available for Hilltop Holdings, providing a deeper understanding of the company's financial health and market position.
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