Stephens analyst Matt Olney assigned a Hold rating to Hilltop Holdings Inc (HTH) today and set a price target of $24. The company’s shares closed on Friday at $22.50, close to its 52-week high of $23.38.
Olney said:
“We believe management’s 2019 guidance is conservative and our updated forecast assumes the top end of the fee income range. Our revised price target of $24 (was $22) represents a 13x multiple on our 2020 EPS forecast of $1.83 and 1.3x tbv. Our rating remains Equal-Weight. KEY EPS Beat; Increasing EPS Forecast. HTH reported 2Q19 GAAP EPS of $0.62. Excluding non-core items, we calculate operating EPS of $0.64, well above consensus forecast of $0.39. We estimate ~$0.05 EPS benefit (assumes $6 million of non-reoccurring revenue) in 2Q19 EPS from elevated structured finance income. In addition, lower-than- expected LLP expense contributed $0.04 to EPS relative to Street forecast. Reported revenue of $421 million was above consensus forecast of $383 million driven by a rebound in structured finance a rebound in mortgage income.”
According to TipRanks.com, Olney is a 2-star analyst with an average return of 0.4% and a 48.5% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.
Hilltop Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $25.50.
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The company has a one-year high of $23.38 and a one-year low of $16.43. Currently, Hilltop Holdings Inc has an average volume of 419.3K.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock.
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Hilltop Holdings, Inc. engages in the provision of business and consumer banking services through PlainsCapital Bank. It operates through the following segments: Banking, Broker-Dealer, Mortgage Origination and Insurance. The Banking segment includes business banking, personal banking, wealth and investment management.
