At a glance
Hilltop Holdings Inc is worth $2.08B, about 14 times its fiscal 2025 earnings. Revenue grew 7.8% to $1.28B in fiscal 2025, with 12.9% kept as profit; over 5 years it has grown 9.5% a year. It pays a 2.18% dividend yield, raised every year for at least 9 years, and returned $988.2M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +16.0% over the past year with dividends reinvested and +3.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 47.0% in the 2020 crash (S&P 500: 33.7%) and 34.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 35 months after the lows.
The business in plain English
Hilltop Holdings is a Dallas-based financial holding company with three businesses: a Texas bank, a securities firm and a mortgage lender that makes home loans across the United States. At December 31, 2025, it had total assets of $15.8 billion, deposits of $10.9 billion, loans of $9.2 billion and stockholders' equity of $2.2 billion.
The bank gathers deposits mainly from Texas households and businesses and lends them out. Commercial real estate is its biggest lending area: 23.9% of its loans were on properties the borrower rents to others and 17.3% on buildings the borrower occupies. Home mortgages were 21.0%, business loans 14.3% and construction loans 10.1%. Another 10.2% was short-term funding for PrimeLending, Hilltop's own mortgage business. The bank also offers business cash management, private banking and trust services.
The securities arm, Securities Holdings, offers investment banking, advice to state and local governments that issue bonds, trading and underwriting of taxable and tax-exempt bonds, clearing (settling trades for other brokers), securities lending and retail brokerage nationwide. Hilltop earns net interest income, the gap between interest on loans and interest paid on deposits, plus noninterest income such as fees, commissions and mortgage sale gains. In fiscal 2025, noninterest income of $841 million was nearly double net interest income of $441 million, which is unusual for a bank.
Price history
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HTH +16.0% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $309.5M, down 6.3% from a year earlier, and net income was $24.9M (-45.7%).
- For fiscal 2025, revenue was $1.28B (+7.8% year over year; -9.5% a year from FY2020 to FY2025) with a 12.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | -9.5% weak |
|---|---|
| Return on equity | 7.6% weak |
| Net income / revenue | 12.9% weak |
| Deposits | $11.03B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.11B | $447.8M | — |
| FY2021 | $1.83B | $374.5M | — |
| FY2022 | $1.29B | $113.1M | — |
| FY2023 | $1.20B | $109.6M | — |
| FY2024 | $1.19B | $113.2M | — |
| FY2025 | $1.28B | $165.6M | — |
Valuation snapshot
| Market value | $2.08B |
|---|---|
| P/E ratio | 13.9 |
| Dividend yield | 2.18% |
Rank among 1514 US companies
Market value at each year end
Hilltop Holdings’s market value went from $2.94B at the end of 2016 to $2.08B on Oct 28, 2026, down 29%; since the end of 2025 it is up 0%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.08B | +0.1% |
| 2025 | $2.08B | +11.9% |
| 2024 | $1.86B | -18.9% |
| 2023 | $2.29B | +18.4% |
| 2022 | $1.94B | -30.1% |
| 2021 | $2.77B | +11.8% |
| 2020 | $2.48B | +7.3% |
| 2019 | $2.31B | +37.1% |
| 2018 | $1.69B | -30.6% |
| 2017 | $2.43B | -17.3% |
| 2016 | $2.94B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| HTH price data to Oct 28, 2026 | +9.8% | +16.0% | +12.8% | +3.2% | +6.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +9.8% |
| 2025 | +21.3% |
| 2024 | -16.9% |
| 2023 | +19.8% |
| 2022 | -12.9% |
| 2021 | +29.5% |
| 2020 | +12.4% |
| 2019 | +41.9% |
| 2018 | -28.7% |
| 2017 | -14.2% |
| 2016 | +55.4% |
| 2015 | -3.7% |
| 2014 | -13.8% |
| 2013 | +70.8% |
| 2012 | +60.2% |
| 2011 | -14.8% |
| 2010 | -14.8% |
| 2009 | +19.5% |
| 2008 | -10.8% |
| 2007 | -6.3% |
| 2006 | +22.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 7.4% over that stretch · deepest drop along the way 35%, back to its old high 6.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.7% over that stretch · deepest drop along the way 47%, back to its old high 7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.4% over that stretch · deepest drop along the way 34.5%, back to its old high 34.9 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 8 sales ($2.5M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 3, 2026 | Rhodes R Bobbitt Director | sell | $484K |
| Aug 4, 2026 | Rhodes R Bobbitt Director | sell | $403K |
| Aug 4, 2026 | Rhodes R Bobbitt Director | sell | $400K |
| Aug 14, 2026 | Rhodes R Bobbitt Director | sell | $398K |
| Aug 13, 2026 | Rhodes R Bobbitt Director | sell | $395K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 10.7% | Jun 30, 2025 |
| Dimensional Fund Advisors LP | 4.7% | Mar 31, 2025 |
ETFs with the most weight in HTH
| KBE SPDR S&P Bank ETF | 0.82% |
| XSLV Invesco S&P SmallCap Low Volatility ETF | 0.74% |
| OASC OneAscent Small Cap Core ETF | 0.59% |
| RZV Invesco S&P SmallCap 600® Pure Value ETF | 0.48% |
| SVAL iShares US Small Cap Value Factor ETF | 0.44% |
| HAPS Harbor Human Capital Factor US Small Cap ETF | 0.43% |
| KRE SPDR S&P Regional Banking ETF | 0.41% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.41% |
What could go wrong
- Heavy reliance on commercial real estate loans. Commercial real estate is the bank's largest loan category, and construction loans add 10.1%. Falling property values or rents could raise loan losses, and unfinished projects are hard to value if a builder fails.
- Business concentrated in Texas. The bank's deposits come mainly from Texas residents and businesses, and its business loans are made mostly in Texas. A downturn in the Texas economy could hit Hilltop harder than a lender spread nationally.
- Mortgage earnings swing with rates and seasons. Home-loan volume swings with interest rates and the seasons, so one quarter says little about a full year. Mortgage servicing rights, which earn fees for handling loan payments, also change value with rates.
- Securities arm depends on markets and tax rules. Market swings can hurt trading and underwriting. Other brokers that use Hilltop to settle trades may leave, and some products rely on tax breaks, such as tax-exempt bonds, that Congress could change.
- Acquisitions could add risk or dilution. Hilltop says it may spend a substantial portion of its excess capital on acquisitions. Deals can disappoint, face regulatory delays, or be paid for with new shares that shrink existing owners' stakes.
- Dividends depend on subsidiaries and aren't guaranteed. The parent company relies heavily on dividends from its bank and other subsidiaries, which regulators can restrict. Hilltop says there is no assurance it will keep paying cash dividends or buying back stock.
Recent events
- Investor presentation or announcement
- Quarterly results released; Other company announcement
- Shareholder vote results
- Investor presentation or announcement
- Quarterly results released; Other company announcement
- Executive or board change
- Investor presentation or announcement
- Quarterly results released; Other company announcement
- Executive or board change; Other company announcement
- Investor presentation or announcement
For income and retirement investors
Hilltop has raised its dividend for at least nine straight years through fiscal 2025, and the streak may be longer. The annual dividend doubled from $0.36 a share in 2020 to $0.72 in 2025, growth of about 14.9% a year, and used 27.4% of 2025 earnings. The yield was 2.18% as of October 28, 2026. Hilltop returns more cash through share repurchases: $775 million in fiscal 2021–2025, versus $213 million in dividends, and its share count fell 28.1% between October 2021 and October 2026. Repurchases swing widely, from $442 million in 2022 to $5.1 million in 2023.
The stock has fallen hard in downturns. It dropped 47% in the 2020 COVID crash, regaining its peak about seven months after the low, and 34.5% in the 2022 bear market, taking about 35 months to recover. Its deepest decline over about 21 years of price history was 59.3%. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Hilltop Holdings make money?
Through three businesses: a Texas bank, a securities firm and a mortgage lender that makes home loans nationwide. Net interest income, the gap between interest collected on loans and interest paid on deposits, was $441 million in fiscal 2025. Fees, trading, investment banking and mortgage activity produced $841 million of noninterest income. Total revenue was $1.28 billion and net income was $165.6 million.
Does Hilltop Holdings raise its dividend every year?
Yes, so far. Hilltop has raised its dividend at least nine years in a row through fiscal 2025, and the streak may be longer. Dividends per share reached $0.72 in 2025, double the $0.36 paid in 2020, and used 27.4% of earnings. The yield was 2.18% as of October 28, 2026. Its annual report warns there is no assurance the company will keep declaring cash dividends.
Is Hilltop Holdings' profit growing?
Not steadily. Net income jumped 46.3% in fiscal 2025 to $165.6 million, or $2.64 a share, up from $1.74 in 2024. That is still far below the $5.01 a share earned in 2020. In the quarter ended September 30, 2026, net income fell 45.7% from a year earlier to $24.9 million, on revenue down 6.3%. Return on equity, profit as a share of shareholders' capital, was 7.6% in 2025. The stock traded at 13.9 times 2025 earnings as of October 28, 2026.
How has Hilltop Holdings stock performed?
Modestly over the long run, with big swings along the way. Based on its share price as of October 28, 2026, the stock gained 16% over one year, 12.8% a year over three years, 3.2% a year over five years and 6% a year over ten years. Calendar-year results ranged from a 71% gain in 2013 to a 28.7% loss in 2018, and the 2022 drop took nearly three years to recover.
Which big investors own Hilltop Holdings stock?
Asset managers BlackRock and Dimensional Fund Advisors have reported large stakes in SEC filings. BlackRock held 10.7% of shares as of June 30, 2025, and Dimensional held 4.7% as of March 31, 2025. Hilltop also sits inside bank and small-company ETFs, including the SPDR S&P Bank ETF (KBE), the Invesco S&P SmallCap Low Volatility ETF (XSLV) and the SPDR S&P Regional Banking ETF (KRE), each at under 1% of the fund.