Hilltop’s Q2 Earnings Beat Consensus on Strong Loan Growth, NIM Expansion (NYSE:HTH)


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Hilltop Holdings (NYSE: HTH) Second-quarter earnings on Thursday beat Wall Street expectations, highlighted by solid loan growth and net interest margin expansion despite a backdrop of macroeconomic uncertainty.

Q2 adjusted EPS of $0.45 topped average analyst estimate of $0.35 and jumped $0.28 in the first quarter.

In addition, “PrimeLending and HilltopSecurities experienced a continuation of the difficult market they faced in the first quarter with high and volatile interest rates coupled with lower demand for new home purchases,” the CEO said. and President Jeremy B. Ford, adding that both companies “were profitable.” in these difficult times thanks to strong spending discipline and experienced management teams.”

During the second quarter, the regional bank paid $442.3 million to repurchase approximately 14.87 million shares of its common stock at $29.75 per share under the completed tender offer. in May, she said.

Net interest income of $112.1 million increased from $100 million in the prior quarter. Second quarter noninterest income of $239.3 million was also up from $216.43 million in the first quarter.

Net interest margin of 2.75% as of June 30 versus 2.36% as of March 31.

PCL was $5.3m in Q2 compared to $0.1m in Q1.

Book value of $31.43 per share as of June 30 increased from $31.02 as of March 31.

Commission rate of 11.0% in Q2 compared to 12.2% in Q1.

Earlier, Hilltop Q2 revenue of $351.33 million topped $19.45 million.


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