NYSE$HTH

Hilltop Holdings Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Hilltop's income to common stockholders decreased compared to the same quarter last year, primarily due to significant decreases in mortgage origination segment net gains and a provision for credit losses in the banking segment.

Hilltop Holdings reported income to common stockholders of $25.6 million, or $0.39 per diluted share, for Q4 2022, a decrease compared to $62.2 million, or $0.78 per diluted share, for Q4 2021. The results were impacted by decreases in mortgage origination segment net gains and a provision for credit losses in the banking segment.

  • Hilltop's income to common stockholders was $25.6 million, or $0.39 per diluted share.
  • The provision for credit losses was $3.6 million.
  • Noninterest income was $169.8 million.
  • Noninterest expense was $253.4 million.

Headline financials

Total Revenue

$123M

Previous: $104M+18.4%
EPS (adj)

$0.39

Previous: $0.78-50.0%
Return on average stockholders' equity

5.0%

No prior period
Return on average assets

0.6%

Previous: 1.4%-55.3%
Net interest margin

3.2%

No prior period
Tier 1 Leverage Ratio

11.5%

No prior period
Common Equity Tier 1 Capital Ratio

18.2%

No prior period
Net Income

$26.6M

Previous: $64.8M-59.0%
Cash & Equivalents

$1.58B

Previous: $2.63B-39.9%
Total Assets

$16.3B

Previous: $18.7B-13.0%

Revenue & EPS history

Hilltop · Revenue · Quarterly

$123M

Q4 2022+18.4%vs Q4 2021
Beat estimate in 10 of 14 quarters(71%)
ActualEstimate

Revenue by segment

Hilltop · $176M total across 3 segments · Q4 2022

  • Broker-Dealer
    $92.8M
  • Mortgage Origination
    $71.4M
  • Banking
    $11.9M

Forward guidance

Hilltop anticipates that headwinds from 2022 will continue to adversely affect operating results in 2023. These headwinds include tight housing inventories, declining deposit balances, rapid increases in market interest rates, and a declining economic forecast.

Headwinds

  • Impact of tight housing inventories on mortgage volumes
  • Declining deposit balances
  • Rapid increases in market interest rates
  • Declining economic forecast
  • Timing and significance of further changes in U.S. treasury yields and mortgage interest rates

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 Q4 2022

Historical avgQ4 2022

-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

Earnings price reactions
QuarterReport dateReaction (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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