HBT Financial (NASDAQ:HBT) Reaches New 52-Week High After Earnings Beat

Key Points

• HBT Financial shares hit a new 52-week high after the company reported quarterly EPS of $0.78, beating estimates by $0.05, while revenue of $80.90 million also exceeded expectations.
• The company declared a quarterly dividend of $0.23 per share, equal to an annualized $0.92 dividend and a 2.8% yield, with a 42.2% payout ratio.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $31.67, below the stock’s reported trading price near $33.97.

HBT Financial, Inc. (NASDAQ:HBT - Get Free Report)'s share price reached a new 52-week high on Monday following a better than expected earnings announcement. The stock traded as high as $34.42 and last traded at $33.97, with a volume of 28166 shares. The stock had previously closed at $33.29.

The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. HBT Financial had a return on equity of 13.06% and a net margin of 22.72%.The business had revenue of $80.90 million for the quarter, compared to the consensus estimate of $80.36 million.

HBT Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.92 dividend on an annualized basis and a yield of 2.8%. HBT Financial's payout ratio is currently 42.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HBT. Weiss Ratings downgraded shares of HBT Financial from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, July 15th. Piper Sandler increased their price objective on shares of HBT Financial from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Zacks Research downgraded HBT Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of HBT Financial from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, DA Davidson raised their price objective on HBT Financial from $28.00 to $31.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $31.67.

Insider Activity at HBT Financial

In other news, Chairman Fred L. Drake sold 15,742 shares of the company's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $28.93, for a total value of $455,416.06. Following the transaction, the chairman directly owned 45,815 shares in the company, valued at approximately $1,325,427.95. This represents a 25.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 51.90% of the company's stock.

Hedge Funds Weigh In On HBT Financial

Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in shares of HBT Financial by 42.4% during the fourth quarter. State of Alaska Department of Revenue now owns 1,809 shares of the company's stock valued at $45,000 after acquiring an additional 539 shares in the last quarter. BNP Paribas Financial Markets grew its stake in HBT Financial by 66.6% in the third quarter. BNP Paribas Financial Markets now owns 3,892 shares of the company's stock worth $98,000 after purchasing an additional 1,556 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in HBT Financial by 906.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,249 shares of the company's stock worth $107,000 after purchasing an additional 3,827 shares in the last quarter. Franklin Resources Inc. purchased a new position in HBT Financial during the 2nd quarter worth $208,000. Finally, Fifth Third Bancorp purchased a new position in HBT Financial during the 1st quarter worth $241,000. 78.55% of the stock is currently owned by institutional investors.

HBT Financial Trading Up 0.3%

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. The stock has a 50-day simple moving average of $30.60 and a two-hundred day simple moving average of $28.61. The firm has a market capitalization of $1.21 billion, a P/E ratio of 15.31 and a beta of 0.51.

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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