Seeking Alpha

SWS dragged down by Hilltop's slide

  • Hilltop Holdings (HTH -6.5%) tumbles after reporting Q1 EPS of $23.8M or $0.26 per share, missing estimates and comparing to $32.4M and $0.39 one year ago.
  • Noninterest income of $170.1M fell 20.2% from a year ago thanks to the mortgage slowdown. Noninterest expense of $212.6M fell just 1.1% as the synergy benefits from the First National Bank acquisition are just beginning to get going.
  • As for the next acquisition, SWS Group (SWS -4.3%) trades down all the way to $7.20 per share thanks to the cash and stock nature of its sale to Hilltop. Based on Hilltop's March 31 close, the deal was worth $7.88 per share to SWS owners. Hilltop: "We also continue to be excited about our proposed acquisition of SWS."
  • Previously: Hilltop Holdings misses by $0.03
  • Source: Press Release
Comments (3)
  • Chris DeMuth Jr.
    , contributor
    Comments (4040) | Send Message
     
    Thank goodness that SWS owners have a vote on this deal.
    6 May, 11:35 AM Reply Like
  • jaginger
    , contributor
    Comments (475) | Send Message
     
    Esposito Group's offer is looking a whole lot more attractive than HTH now.
    6 May, 11:50 AM Reply Like
  • jmc013
    , contributor
    Comments (5) | Send Message
     
    The tell tale will be SWS earnings tomorrow. Esposito's offer was never a real offer, they didn't have the capital to pull it off...If SWS dips further tomorrow after their earnings it will be a cheap way to play HTH long term.
    6 May, 12:36 PM Reply Like
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