HBT Financial (NASDAQ:HBT) Sets New 52-Week High on Strong Earnings

HBT Financial, Inc. (NASDAQ:HBT) shares hit a new 52-week high during trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $37.70 and last traded at $37.1260, with a volume of 24,980 shares trading hands. The stock had previously closed at $36.24.

The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The firm had revenue of $84.21 million for the quarter, compared to the consensus estimate of $82.87 million. HBT Financial had a return on equity of 13.46% and a net margin of 23.44%.

Wall Street Analyst Weigh In

HBT has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $41.00 target price (up from $38.00) on shares of HBT Financial in a research note on Thursday, August 13th. Hovde Group increased their price target on HBT Financial from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Zacks Research upgraded HBT Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 28th. Wall Street Zen downgraded HBT Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, DA Davidson boosted their price objective on HBT Financial from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $37.40.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in HBT Financial during the 2nd quarter worth approximately $63,321,000. Dimensional Fund Advisors LP grew its stake in shares of HBT Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 561,159 shares of the company’s stock worth $14,995,000 after purchasing an additional 15,350 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in HBT Financial in the second quarter valued at $15,675,000. Wellington Management Group LLP acquired a new stake in HBT Financial in the second quarter valued at $9,552,000. Finally, Heartland Bank & Trust Co raised its position in shares of HBT Financial by 857.6% during the first quarter. Heartland Bank & Trust Co now owns 160,487 shares of the company’s stock worth $4,288,000 after acquiring an additional 143,727 shares during the last quarter. Institutional investors own 78.55% of the company’s stock.

HBT Financial Trading Up 2.5%

The stock has a market cap of $1.35 billion, a P/E ratio of 15.95 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s fifty day simple moving average is $35.87 and its 200-day simple moving average is $32.56.

HBT Financial Company Profile

HBT Financial, Inc is a bank holding company headquartered in Bloomington, Illinois. Its principal subsidiary, Heartland Bank and Trust Company, operates as a community bank serving individuals, businesses, agricultural customers and institutions.

Heartland Bank provides a range of traditional banking products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer loans, commercial lending and agricultural financing. The bank also offers treasury management, online and mobile banking, wealth management, trust and investment services, and other financial solutions.

Through its branch network and digital channels, HBT Financial serves communities primarily across central and eastern Illinois and parts of eastern Iowa.