Why Shares of Hilltop Holdings Are Surging Today
Shares of Dallas-based bank Hilltop Holdings (NYSE: HTH) had shot up roughly 17.7% at 10:18 a.m. ET today after the company announced a modified Dutch auction tender offer to repurchase shares.
In the offering, Hilltop plans to purchase up to $400 million of common stock at a price between $28 and $32 per share. On Friday, April 29, Hilltop's stock closed at $25.49.
Image source: Getty Images.
Source Fool.com
