NYSE$HTH
Hilltop Holdings Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Hilltop Holdings' financial performance was solid, marked by strategic balance sheet management and improved profitability in key segments.
Hilltop Holdings reported a net income of $22.9 million and EPS of $0.31. The company experienced growth in noninterest income and managed to reduce noninterest expenses. PlainsCapital Bank and PrimeLending showed pre-tax income, while HilltopSecurities also contributed positively with a pre-tax income of $7.2 million.
- PlainsCapital Bank's pre-tax income was $32.8 million, with net interest margin increasing due to loan portfolio repricing and return of higher cost brokered deposits.
- PrimeLending's pre-tax income reached $1.4 million, driven by higher gain-on-sale margins and origination volume growth.
- HilltopSecurities generated $7.2 million in pre-tax income, supported by a net revenue of $104.3 million.
- Hilltop returned $21 million to shareholders through dividends and share repurchases.
Headline financials
Revenue & EPS history
Hilltop · Revenue · Quarterly
$297M
Revenue by segment
Hilltop · $176M total across 3 segments · Q4 2022
- Broker-Dealer$92.8M—52.7%
- Mortgage Origination$71.4M—40.6%
- Banking$11.9M—6.7%
Forward guidance
Hilltop Holdings provided outlook for 2024, expecting stable bank loans, deposit growth decline of 0% - 3%, NII decline of 6% - 10%, mortgage origination volume of $8B - $10B, broker dealer fees decrease 0% - 5%, non-variable expenses decline 1% - 3%, provision / average loans HFI of 20 – 40 bps, and effective tax rate of 22% – 24%.
Tailwinds
- Full year average Bank loans (excluding retained mortgages and mortgage warehouse lending) remain stable with prior year levels
- Expect to retain $0 – $20 million per month of originated mortgages
- Mortgage origination noninterest income is expected to remain relatively stable with prior year
- Non-variable expenses are expected to decline by 1% – 3%
- Variable expenses are projected to follow revenue contribution from fee businesses
Headwinds
- Expecting a decline of 0% – 3% in deposit growth due to elevated market pricing and competition
- Migration of NIB deposits expected to continue into IB products
- Expecting NIB to comprise 25% – 28% of total deposits at year-end 2024
- NII is expected to decline by 6% – 10% due to higher average deposits costs in 2024
- Broker Dealer fees are anticipated to decrease by 0% – 5%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.3%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+1.6%
Avg return
30 days after
45%
30 / 66 earnings
Positive
+17.4%
Q3 2013
Best reaction
-11.3%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.3% | -0.8% | -2.0% | |
| Q4 2025 | +2.2% | +6.6% | +1.7% | |
| Q3 2025 | +4.6% | +0.1% | +4.6% | |
| Q2 2025 | -2.4% | +0.8% | +5.7% | |
| Q1 2025 | -1.1% | +0.8% | +1.1% | |
| Q4 2024 | -0.5% | +8.3% | +7.3% | |
| Q3 2024 | +2.5% | +1.5% | +5.6% | |
| Q2 2024 | -6.3% | -5.2% | -5.1% | |
| Q1 2024 | +4.4% | +5.1% | +10.5% | |
| Q4 2023 | -1.5% | -3.7% | -9.4% | |
| Q3 2023 | -1.3% | -2.0% | +10.3% | |
| Q2 2023 | -10.9% | -7.9% | -8.6% | |
| Q1 2023 | +6.2% | +2.7% | +4.9% | |
| Q4 2022 | +7.1% | +8.0% | +10.4% | |
| Q3 2022 | +11.6% | +14.0% | +15.3% | |
| Q2 2022 | +0.6% | +0.5% | +1.5% | |
| Q1 2022 | -11.3% | -12.9% | +1.5% | |
| Q4 2021 | -2.7% | -6.1% | -11.5% | |
| Q3 2021 | +5.4% | +8.5% | +0.0% | |
| Q2 2021 | -1.3% | -1.5% | +3.6% | |
| Q1 2021 | +4.5% | +3.0% | +10.7% | |
| Q4 2020 | -4.4% | -2.4% | +5.2% | |
| Q3 2020 | -2.3% | -2.8% | +8.7% | |
| Q2 2020 | +0.6% | -0.3% | +6.7% | |
| Q1 2020 | -6.7% | -15.6% | -3.2% | |
| Q4 2019 | -6.1% | -4.6% | -13.6% | |
| Q3 2019 | +3.1% | +5.9% | +3.8% | |
| Q2 2019 | +0.0% | +2.4% | +1.6% | |
| Q1 2019 | +3.5% | +4.8% | +0.6% | |
| Q4 2018 | -3.6% | -3.9% | +2.7% | |
| Q3 2018 | +9.5% | +15.6% | +11.6% | |
| Q2 2018 | -4.0% | -5.4% | -3.9% | |
| Q1 2018 | -5.6% | -8.5% | -3.5% | |
| Q4 2017 | +2.5% | -2.2% | -6.8% | |
| Q3 2017 | +0.1% | -7.1% | -9.3% | |
| Q2 2017 | +1.5% | +1.8% | -3.0% | |
| Q1 2017 | +2.1% | -1.2% | -8.5% | |
| Q4 2016 | -0.4% | -3.5% | -1.1% | |
| Q3 2016 | -0.3% | -0.1% | +15.4% | |
| Q2 2016 | -1.0% | -1.7% | +0.9% | |
| Q1 2016 | -1.7% | — | — | |
| Q4 2015 | +2.1% | — | — | |
| Q3 2015 | -1.7% | — | — | |
| Q2 2015 | -6.7% | — | — | |
| Q1 2015 | +1.8% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | -5.5% | — | — | |
| Q2 2014 | -0.1% | — | — | |
| Q1 2014 | -3.7% | — | — | |
| Q4 2013 | +1.3% | — | — | |
| Q3 2013 | +17.4% | — | — | |
| Q2 2013 | -4.2% | — | — | |
| Q1 2013 | +6.5% | — | — | |
| Q4 2012 | +1.4% | — | — | |
| Q3 2012 | -1.1% | — | — | |
| Q2 2012 | -0.9% | — | — | |
| Q1 2011 | -1.1% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2009 | +4.9% | — | — | |
| Q4 2011 | +4.9% | — | — | |
| Q3 2011 | +2.1% | — | — | |
| Q3 2010 | +2.1% | — | — | |
| Q2 2010 | -9.7% | — | — | |
| Q4 2010 | -9.7% | — | — | |
| Q2 2011 | -9.7% | — | — | |
| Q1 2010 | +0.3% | — | — |
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