HBT Financial (NASDAQ:HBT) Announces Quarterly Earnings Results

HBT Financial (NASDAQ:HBT) released its earnings results on Monday. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03, Zacks reports. The business had revenue of $59.84 million for the quarter, compared to analyst estimates of $60.31 million. HBT Financial had a return on equity of 14.03% and a net margin of 26.64%.During the same quarter last year, the firm posted $0.61 earnings per share.

HBT Financial Stock Up 1.0%

Shares of HBT Financial stock opened at $24.82 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market cap of $781.83 million, a P/E ratio of 10.01 and a beta of 0.63. The firm’s 50 day moving average price is $25.39 and its 200-day moving average price is $24.62. HBT Financial has a 52-week low of $19.46 and a 52-week high of $27.02.

Hedge Funds Weigh In On HBT Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of HBT Financial by 906.9% during 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. acquired a new stake in shares of HBT Financial in the 2nd quarter worth $208,000. Qube Research & Technologies Ltd purchased a new position in HBT Financial during the 2nd quarter worth $297,000. Bank of America Corp DE increased its position in HBT Financial by 34.6% during the 2nd quarter. Bank of America Corp DE now owns 12,003 shares of the company’s stock valued at $303,000 after buying an additional 3,085 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in HBT Financial during the 1st quarter valued at about $286,000. 78.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBT has been the subject of a number of research analyst reports. DA Davidson set a $27.00 price objective on shares of HBT Financial in a report on Tuesday. Piper Sandler reduced their target price on shares of HBT Financial from $29.00 to $27.50 and set a “neutral” rating on the stock in a research report on Tuesday. Zacks Research upgraded HBT Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods increased their price target on HBT Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of HBT Financial in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.50.

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.