Hilltop Holdings (HTH) PT Raised to $34 at Stephens

Stephens analyst Matt Olney raised the price target on Hilltop Holdings (NYSE: HTH) to $34.00 (from $33.00) while maintaining a Equal Weight rating.

The analyst commented: "HTH 2Q24 results were highlighted by improving mortgage trends, in-line broker/dealer activity but sluggish NII trends. The updated guidance was mixed as a stronger outlook for mortgage fees was offset by a softer NII outlook. We continue to believe 2024 will be an EPS trough for the cycle as we expect mortgage and broker/dealer fundamentals to improve in 2025. Capital levels remain robust (CET1 ratio of 19.5%) as potential deployment could represent significant earnings power not considered in our forecast. Our $34 price target (was $33) represents 22x our 2025 EPS forecast and 1.12x our 12- month TBVPS forecast. Our rating is Equal-Weight."

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