HBT Financial (NASDAQ:HBT) Downgraded to "Market Perform" Rating by Raymond James Financial

Key Points

• HBT Financial was downgraded by Raymond James Financial from an "outperform" rating to a "market perform" rating, indicating a shift in analyst sentiment about the stock's future performance.
• Several research firms have set new price targets for HBT Financial, with Piper Sandler raising its target from $26.00 to $29.00, reflecting varied perspectives on the company's valuation.
• As of the latest reports, HBT Financial has an average target price of $28.80 and is mostly rated as a "Hold" by analysts, with 78.55% of the stock owned by institutional investors.

HBT Financial (NASDAQ:HBT - Get Free Report) was downgraded by stock analysts at Raymond James Financial from an "outperform" rating to a "market perform" rating in a research note issued on Tuesday, Marketbeat reports.

A number of other research firms have also commented on HBT. Piper Sandler raised their price target on shares of HBT Financial from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. DA Davidson raised their price target on shares of HBT Financial from $23.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Zacks Research raised shares of HBT Financial from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of HBT Financial in a research report on Saturday, September 27th. Finally, Keefe, Bruyette & Woods raised their target price on shares of HBT Financial from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, HBT Financial has an average rating of "Hold" and an average target price of $28.80.

HBT Financial Price Performance

Shares of HBT opened at $24.97 on Tuesday. The firm has a market capitalization of $786.43 million, a PE ratio of 10.32 and a beta of 0.63. The company's 50-day moving average is $25.50 and its 200-day moving average is $24.50. HBT Financial has a fifty-two week low of $19.46 and a fifty-two week high of $27.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.82 and a quick ratio of 0.82.

HBT Financial (NASDAQ:HBT - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. HBT Financial had a net margin of 26.22% and a return on equity of 13.98%. The business had revenue of $58.80 million for the quarter, compared to analyst estimates of $59.45 million. During the same period last year, the firm earned $0.57 earnings per share. Equities analysts forecast that HBT Financial will post 2.34 EPS for the current year.

Institutional Investors Weigh In On HBT Financial

A number of hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC boosted its stake in shares of HBT Financial by 19.4% in the 2nd quarter. Corient Private Wealth LLC now owns 32,045 shares of the company's stock valued at $808,000 after purchasing an additional 5,210 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of HBT Financial by 906.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,249 shares of the company's stock valued at $107,000 after purchasing an additional 3,827 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of HBT Financial by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 12,003 shares of the company's stock valued at $303,000 after purchasing an additional 3,085 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of HBT Financial by 86.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 43,474 shares of the company's stock valued at $1,096,000 after purchasing an additional 20,100 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of HBT Financial in the 2nd quarter valued at approximately $297,000. 78.55% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.