HBT Financial (NASDAQ:HBT) Coverage Initiated by Analysts at Hovde Group

Hovde Group assumed coverage on shares of HBT Financial (NASDAQ:HBT) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “market perform” rating and a $24.50 price target on the stock. Hovde Group’s target price indicates a potential upside of 8.84% from the company’s current price.

Several other analysts have also recently commented on HBT. Piper Sandler dropped their price target on HBT Financial from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on shares of HBT Financial from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.75.

HBT Financial Price Performance

Shares of NASDAQ HBT opened at $22.51 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a fifty day moving average of $23.97 and a 200 day moving average of $23.04. The firm has a market cap of $710.39 million, a PE ratio of 9.96 and a beta of 0.81. HBT Financial has a one year low of $18.00 and a one year high of $26.25.

HBT Financial (NASDAQ:HBT) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. HBT Financial had a net margin of 24.99% and a return on equity of 14.57%. As a group, research analysts predict that HBT Financial will post 2.34 EPS for the current fiscal year.

HBT Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 18th that authorizes the company to repurchase $15.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at HBT Financial

In other news, Chairman Fred L. Drake sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $25.15, for a total value of $251,500.00. Following the completion of the sale, the chairman now owns 22,825 shares of the company’s stock, valued at $574,048.75. This represents a 30.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patrick F. Busch sold 8,000 shares of HBT Financial stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $24.77, for a total transaction of $198,160.00. Following the sale, the director now directly owns 182,000 shares in the company, valued at approximately $4,508,140. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,900 shares of company stock worth $969,500 in the last quarter. Company insiders own 59.80% of the company’s stock.

Hedge Funds Weigh In On HBT Financial

Large investors have recently modified their holdings of the business. Two Sigma Advisers LP increased its position in shares of HBT Financial by 5.7% during the 4th quarter. Two Sigma Advisers LP now owns 37,000 shares of the company’s stock worth $810,000 after purchasing an additional 2,000 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of HBT Financial by 10.1% during the fourth quarter. Nuveen Asset Management LLC now owns 35,062 shares of the company’s stock valued at $768,000 after acquiring an additional 3,227 shares during the last quarter. Millennium Management LLC raised its stake in shares of HBT Financial by 65.9% in the 4th quarter. Millennium Management LLC now owns 43,126 shares of the company’s stock valued at $944,000 after acquiring an additional 17,130 shares during the period. Bank of America Corp DE raised its stake in shares of HBT Financial by 35.0% in the 4th quarter. Bank of America Corp DE now owns 15,615 shares of the company’s stock valued at $342,000 after acquiring an additional 4,048 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of HBT Financial in the 4th quarter worth approximately $389,000. Institutional investors and hedge funds own 78.55% of the company’s stock.

About HBT Financial

HBT Financial, Inc operates as the bank holding company for Heartland Bank and Trust Company that provides business, commercial, and retail banking products and services to individuals, businesses, and municipal entities in Central and Northeastern Illinois, and Eastern Iowa. The company's deposits accounts consist of noninterest-bearing demand deposits, interest-bearing transaction accounts, money market accounts, savings accounts, certificates of deposits, health savings accounts, and individual retirement accounts.