Hilltop Holdings (HTH) Misses Q1 EPS by 9c

Hilltop Holdings (NYSE: HTH) reported Q1 EPS of $0.27, $0.09 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $90.4 million versus the consensus estimate of $98.18 million.

First Quarter 2017 Highlights for Hilltop:

• Hilltop’s total assets were $12.3 billion at March 31, 2017, compared to $12.7 billion at December 31, 2016;
• Hilltop’s common equity increased by $15.5 million from December 31, 2016 to $1.9 billion at March 31, 2017;
• Non-covered loans1 held for investment, net of allowance for loan losses, decreased by 1.0% to $5.7 billion and covered loans1, net of allowance for loan losses, decreased by 8.2% to $234.7 million at March 31, 2017 from December 31, 2016;
• Non-covered non-performing loans increased to $28.8 million, or 0.41% of total non-covered loans, at March 31, 2017, compared to $24.4 million, or 0.32% of total non-covered loans, at December 31, 2016;
• Energy classified and criticized loans were $26.5 million at March 31, 2017, down from $28.7 million at December 31, 2016;
• Loans held for sale decreased by 26.0% to $1.3 billion from December 31, 2016 to March 31, 2017;
• Total deposits were $7.3 billion at March 31, 2017, compared to $7.1 billion at December 31, 2016;
• Hilltop maintained strong capital levels with a Tier 1 Leverage Ratio2 of 13.98% and a Common Equity Tier 1 Capital Ratio of 19.03% at March 31, 2017;
• Hilltop’s net interest margin3 decreased to 3.52% for the first quarter of 2017, from 3.80% in the fourth quarter of 2016;
• The provision for loan losses was $1.7 million during the first quarter of 2017, compared to $4.3 million in the fourth quarter of 2016;
• For the first quarter of 2017, noninterest income was $271.4 million, compared to $277.4 million in the first quarter of 2016, a 2.1% decrease; and
• For the first quarter of 2017, noninterest expense was $320.5 million, compared to $325.2 million in the first quarter of 2016, a 1.4% decrease.

For earnings history and earnings-related data on Hilltop Holdings (HTH) click here.

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