Hovde Group Forecasts Strong Price Appreciation for HBT Financial (NASDAQ:HBT) Stock

Key Points

• Hovde Group raised HBT Financial’s price target from $40 to $44 and maintained an “outperform” rating, implying 21.58% potential upside. The stock has a consensus “Moderate Buy” rating and an average target of $36.80.
• HBT Financial reported quarterly EPS of $0.78, exceeding estimates of $0.73, while revenue of $80.90 million also topped expectations. Analysts project full-year EPS of $3.01.
• Shares traded up 0.7% at $36.19, near the 12-month high of $36.83, while institutional investors own 78.55% of the company.

HBT Financial (NASDAQ:HBT - Get Free Report) had its target price raised by investment analysts at Hovde Group from $40.00 to $44.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has an "outperform" rating on the stock. Hovde Group's price objective points to a potential upside of 21.58% from the stock's current price.

Other analysts have also issued reports about the company. Piper Sandler boosted their target price on HBT Financial from $32.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. DA Davidson lifted their price objective on HBT Financial from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Tuesday. Wall Street Zen downgraded shares of HBT Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research lowered shares of HBT Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of HBT Financial from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.80.

HBT Financial Trading Up 0.7%

Shares of NASDAQ HBT opened at $36.19 on Wednesday. HBT Financial has a twelve month low of $22.36 and a twelve month high of $36.83. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 15.53 and a beta of 0.51. The company's fifty day moving average is $32.44 and its 200-day moving average is $29.38.

HBT Financial (NASDAQ:HBT - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.05. The company had revenue of $80.90 million during the quarter, compared to analysts' expectations of $80.36 million. HBT Financial had a net margin of 23.44% and a return on equity of 14.03%. Equities research analysts predict that HBT Financial will post 3.01 EPS for the current year.

Hedge Funds Weigh In On HBT Financial

Several large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of HBT Financial during the 2nd quarter valued at about $63,321,000. Heartland Bank & Trust Co lifted its stake in HBT Financial by 857.6% in the 1st 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 in the last quarter. Bank of New York Mellon Corp purchased a new position in HBT Financial during the second quarter valued at approximately $4,472,000. Allspring Global Investments Holdings LLC acquired a new position in shares of HBT Financial in the first quarter worth $3,349,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of HBT Financial by 51.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 257,579 shares of the company's stock worth $6,658,000 after purchasing an additional 87,085 shares in the last quarter. Institutional investors own 78.55% of the company's stock.

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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