BlackRock Inc. Acquires New Stake in HBT Financial, Inc. $HBT

Key Points

• BlackRock acquired 1.98 million HBT Financial shares valued at approximately $63.3 million, giving it a 5.44% stake. Institutional investors and hedge funds collectively own 78.55% of the company.
• HBT Financial exceeded quarterly expectations, reporting $0.78 in EPS versus the $0.73 consensus estimate and revenue of $80.9 million. The company also raised its quarterly dividend to $0.25, equivalent to a 2.8% annualized yield.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $37.40; recent targets range as high as $44.

BlackRock Inc. purchased a new position in shares of HBT Financial, Inc. (NASDAQ:HBT - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,979,411 shares of the company's stock, valued at approximately $63,321,000. BlackRock Inc. owned 5.44% of HBT Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Heartland Bank & Trust Co increased its stake in HBT Financial by 857.6% during the 1st quarter. Heartland Bank & Trust Co now owns 160,487 shares of the company's stock valued at $4,288,000 after purchasing an additional 143,727 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of HBT Financial during the second quarter worth about $4,472,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of HBT Financial in the 1st quarter worth about $3,349,000. Adage Capital Partners GP L.L.C. lifted its position in HBT Financial by 51.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 257,579 shares of the company's stock valued at $6,658,000 after acquiring an additional 87,085 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in HBT Financial during the 3rd quarter valued at about $725,000. 78.55% of the stock is owned by institutional investors and hedge funds.

HBT Financial Price Performance

HBT stock opened at $35.79 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.84. HBT Financial, Inc. has a 52 week low of $22.36 and a 52 week high of $37.51. The firm's fifty day moving average is $34.11 and its 200 day moving average is $30.13. The firm has a market cap of $1.30 billion, a P/E ratio of 15.36 and a beta of 0.51.

HBT Financial (NASDAQ:HBT - Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $80.90 million for the quarter, compared to the consensus estimate of $80.36 million. HBT Financial had a net margin of 23.44% and a return on equity of 13.46%. Research analysts predict that HBT Financial, Inc. will post 3.01 earnings per share for the current year.

HBT Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.8%. This is an increase from HBT Financial's previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, August 11th. HBT Financial's dividend payout ratio (DPR) is presently 42.92%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $41.00 price target (up from $38.00) on shares of HBT Financial in a report on Thursday, August 13th. Wall Street Zen downgraded HBT Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Hovde Group lifted their target price on HBT Financial from $40.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Piper Sandler lifted their price target on shares of HBT Financial from $32.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Finally, Weiss Ratings raised HBT Financial from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.40.

About HBT Financial

HBT Financial, Inc is the bank holding company for HomeTrust Bank, a community-focused financial institution based in Lenoir, North Carolina. Through its subsidiary, HomeTrust Bank, the company provides a full suite of personal and business banking services across western North Carolina, eastern Tennessee and Upstate South Carolina. The company's operations include a network of branch offices, ATMs and online banking platforms designed to serve both urban and rural communities in its primary market areas.

HomeTrust Bank's product offerings encompass traditional deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.

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