HBT Financial (NASDAQ:HBT) Rating Lowered to Neutral at DA Davidson

HBT Financial (NASDAQ:HBT) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They presently have a $24.00 price target on the stock, down from their prior price target of $26.00. DA Davidson’s target price indicates a potential upside of 11.65% from the stock’s current price.

HBT has been the topic of several other research reports. Piper Sandler increased their target price on HBT Financial from $21.50 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $27.00 price target (up from $25.00) on shares of HBT Financial in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of HBT Financial from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.60.

HBT Financial Price Performance

HBT Financial stock opened at $21.50 on Wednesday. The company’s 50 day simple moving average is $22.15 and its 200-day simple moving average is $20.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. HBT Financial has a 1 year low of $17.42 and a 1 year high of $24.85. The company has a market capitalization of $678.38 million, a price-to-earnings ratio of 9.51 and a beta of 0.86.

HBT Financial (NASDAQ:HBT) last announced its earnings results on Monday, July 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. HBT Financial had a return on equity of 15.53% and a net margin of 25.61%. The company had revenue of $72.43 million for the quarter, compared to analyst estimates of $56.82 million. During the same quarter in the previous year, the company earned $0.58 earnings per share. As a group, equities research analysts expect that HBT Financial will post 2.3 earnings per share for the current year.

Insider Activity

In other HBT Financial news, Director Patrick F. Busch sold 11,555 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $24.09, for a total transaction of $278,359.95. Following the completion of the transaction, the director now owns 190,000 shares in the company, valued at approximately $4,577,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 59.80% of the company’s stock.

Hedge Funds Weigh In On HBT Financial

Several hedge funds have recently added to or reduced their stakes in HBT. LSV Asset Management purchased a new stake in HBT Financial in the first quarter valued at $183,000. Vanguard Group Inc. increased its position in shares of HBT Financial by 0.8% during the first quarter. Vanguard Group Inc. now owns 626,575 shares of the company’s stock worth $11,930,000 after purchasing an additional 5,183 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of HBT Financial in the 1st quarter valued at about $6,497,000. Acadian Asset Management LLC boosted its position in shares of HBT Financial by 19.0% in the 2nd quarter. Acadian Asset Management LLC now owns 95,606 shares of the company’s stock valued at $1,949,000 after purchasing an additional 15,242 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of HBT Financial by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 119,698 shares of the company’s stock valued at $2,444,000 after purchasing an additional 5,859 shares during the period. 78.55% of the stock is currently owned by hedge funds and other institutional investors.

HBT Financial Company Profile

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.