Piper Sandler Trims HBT Financial (NASDAQ:HBT) Target Price to $24.00

HBT Financial (NASDAQ:HBT - Get Free Report) had its price target lowered by research analysts at Piper Sandler from $25.00 to $24.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price target would suggest a potential upside of 9.29% from the company's current price.

Several other research firms also recently issued reports on HBT. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $27.00 price objective (up previously from $25.00) on shares of HBT Financial in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of HBT Financial from $21.00 to $24.00 and gave the company an "underweight" rating in a research note on Tuesday, July 23rd. Finally, DA Davidson downgraded shares of HBT Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $26.00 to $24.00 in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, HBT Financial presently has an average rating of "Hold" and a consensus price target of $24.40.

HBT Financial Stock Up 2.2 %

Shares of HBT stock traded up $0.48 on Tuesday, reaching $21.96. 18,983 shares of the stock were exchanged, compared to its average volume of 28,239. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The business's 50 day moving average price is $21.94 and its 200 day moving average price is $20.68. The company has a market capitalization of $693.74 million, a price-to-earnings ratio of 9.72 and a beta of 0.86. HBT Financial has a twelve month low of $17.69 and a twelve month high of $24.85.

HBT Financial (NASDAQ:HBT - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. HBT Financial had a net margin of 25.61% and a return on equity of 15.53%. The company had revenue of $72.43 million during the quarter, compared to the consensus estimate of $56.82 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, sell-side analysts expect that HBT Financial will post 2.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Patrick F. Busch sold 11,555 shares of the company's stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $24.09, for a total value of $278,359.95. Following the completion of the sale, the director now directly owns 190,000 shares of the company's stock, valued at approximately $4,577,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 59.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in HBT Financial during the third quarter worth about $122,000. LSV Asset Management purchased a new position in HBT Financial in the first quarter valued at about $183,000. Hsbc Holdings PLC increased its holdings in HBT Financial by 3.8% in the second quarter. Hsbc Holdings PLC now owns 14,605 shares of the company's stock valued at $287,000 after buying an additional 541 shares in the last quarter. Renaissance Technologies LLC increased its holdings in HBT Financial by 109.9% in the second quarter. Renaissance Technologies LLC now owns 27,500 shares of the company's stock valued at $562,000 after buying an additional 14,400 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in HBT Financial by 19.0% in the second quarter. Acadian Asset Management LLC now owns 95,606 shares of the company's stock valued at $1,949,000 after buying an additional 15,242 shares in the last quarter. 78.55% of the stock is owned by hedge funds and other institutional investors.

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.