Hilltop Holdings reports Q1 EPS 41c, consensus 26c
Hilltop's annualized return on average assets and return on average equity for the first quarter of 2019 were 1.21% and 8.04%, respectively, compared to 0.77% and 5.19%, respectively, for the first quarter of 2018; Hilltop's book value per common share increased to $21.23 at March 31, 2019, compared to $20.83 at December 31, 2018; Hilltop's total assets were $13.5 billion at March 31, 2019, compared to $13.7 billion at December 31, 2018.For the first quarter of 2019, noninterest income was $252.5 million, compared to $235.1 million in the first quarter of 2018, a 7.4% increase. Jeremy Ford, CEO of Hilltop, said, "We are very pleased with the solid start to 2019 as revenues grew by 7% and noninterest expenses, including the impact of the previously announced leadership changes, remained in line with the prior year. We remain focused on executing against our 'platform for growth' initiatives, which we believe will continue to improve productivity, scalability and the services delivered to our clients. Our business continues to strengthen as we maintain strong capital levels and solid liquidity and credit quality, which will support our growth priorities in 2019 and beyond."