Hovde Group Initiates Coverage on HBT Financial (NASDAQ:HBT)

Research analysts at Hovde Group started coverage on shares of HBT Financial (NASDAQ:HBT - Get Free Report) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a "market perform" rating and a $24.50 price target on the stock. Hovde Group's price objective indicates a potential upside of 8.99% from the company's current price.

HBT has been the subject of a number of other reports. Piper Sandler dropped their target price on shares of HBT Financial from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on shares of HBT Financial from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, HBT Financial presently has an average rating of "Hold" and an average target price of $24.75.

HBT Financial Price Performance

NASDAQ HBT traded down $0.03 during trading hours on Thursday, reaching $22.48. 7,093 shares of the company's stock were exchanged, compared to its average volume of 31,488. The firm has a fifty day moving average of $23.97 and a 200-day moving average of $23.06. HBT Financial has a one year low of $18.00 and a one year high of $26.25. The stock has a market cap of $709.45 million, a PE ratio of 9.95 and a beta of 0.81. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20.

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HBT Financial (NASDAQ:HBT - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. HBT Financial had a return on equity of 14.57% and a net margin of 24.99%. On average, equities research analysts predict that HBT Financial will post 2.34 earnings per share for the current fiscal year.

HBT Financial declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 18th that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Patrick F. Busch sold 8,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $24.77, for a total value of $198,160.00. Following the completion of the sale, the director now directly owns 182,000 shares of the company's stock, valued at $4,508,140. This represents a 4.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Fred L. Drake sold 10,000 shares of HBT Financial stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $25.15, for a total transaction of $251,500.00. Following the transaction, the chairman now directly owns 22,825 shares in the company, valued at $574,048.75. The trade was a 30.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,900 shares of company stock valued at $969,500. Company insiders own 59.80% of the company's stock.

Institutional Investors Weigh In On HBT Financial

Large investors have recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its position in shares of HBT Financial by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 1,335 shares of the company's stock worth $29,000 after purchasing an additional 431 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in HBT Financial during the fourth quarter worth about $57,000. FMR LLC grew its stake in HBT Financial by 70.1% in the third quarter. FMR LLC now owns 4,329 shares of the company's stock valued at $95,000 after acquiring an additional 1,784 shares during the period. SG Americas Securities LLC increased its holdings in shares of HBT Financial by 13.6% in the fourth quarter. SG Americas Securities LLC now owns 6,309 shares of the company's stock worth $138,000 after acquiring an additional 756 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of HBT Financial by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 7,522 shares of the company's stock worth $165,000 after acquiring an additional 1,638 shares in the last quarter. Institutional investors own 78.55% of the company's stock.

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.