Dallas-based Hilltop Holdings Inc . (NYSE:HTH) announced the results of its 2024 Annual Meeting of Stockholders held on Thursday. The meeting, conducted virtually, led to the election of 16 director nominees and the approval of executive compensation.
All 16 nominees were elected to serve on the company's Board of Directors until the 2025 annual meeting. The directors, including Rhodes R. Bobbitt and Tracy A. Bolt, received a majority of votes cast, with the number of votes withheld and broker non-votes detailed in the filing. Notably, W. Robert Nichols, III had the highest number of withheld votes among the elected directors.
Additionally, stockholders approved the 2023 compensation for the company's named executive officers in a non-binding advisory vote. The vote on executive compensation, often referred to as "say on pay," reflects shareholder sentiment on the company's executive pay practices.
The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, was also ratified by stockholders with a significant majority.
Hilltop Holdings, which operates in the state commercial banks sector, is incorporated in Maryland with its executive offices located in Dallas, Texas. The company's fiscal year ends on December 31.
InvestingPro Insights
As Hilltop Holdings Inc. (NYSE:HTH) continues to navigate the financial landscape, recent data from InvestingPro offers valuable insights for investors. With a market capitalization of $2.12 billion USD, the company shows a solid financial footing. However, the P/E ratio of 18.68 suggests that the stock may be trading at a premium compared to its near-term earnings growth. This is echoed by an InvestingPro Tip that notes Hilltop Holdings is trading at a high P/E ratio relative to near-term earnings growth.
On a positive note, the company has demonstrated a commitment to returning value to shareholders, having raised its dividend for 8 consecutive years, which is a testament to its financial stability and management's confidence in the business's future. This aligns with another InvestingPro Tip highlighting that Hilltop Holdings has maintained dividend payments for 9 consecutive years. Additionally, the company has seen a strong price total return over the last three months of 15.18%, indicating robust investor confidence in the short term.
For investors looking for a deeper dive into Hilltop Holdings' financial health, InvestingPro offers further tips and metrics. To explore these insights and learn how they may influence investment decisions, readers can take advantage of a special offer: use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. With 6 additional InvestingPro Tips available, investors can gain a comprehensive understanding of the company's performance and potential.
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