DALLAS (AP) _ Hilltop Holdings Inc. (HTH) on Thursday reported first-quarter profit of $49.6 million.
The Dallas-based bank said it had earnings of 55 cents per share. Earnings, adjusted to account for discontinued operations, came to 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The insurance holding compnay posted revenue of $416.6 million in the period. Its revenue net of interest expense was $382 million, which did not meet Street forecasts.
Hilltop Holdings shares have declined 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.30, a fall of 7% in the last 12 months.