HBT Financial (NASDAQ:HBT) Downgraded to “Hold” Rating by Zacks Research

HBT Financial (NASDAQ:HBT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Piper Sandler increased their price target on shares of HBT Financial from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings lowered shares of HBT Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, May 11th. DA Davidson increased their price target on shares of HBT Financial from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of HBT Financial from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

HBT Financial Stock Performance

Shares of NASDAQ:HBT opened at $28.17 on Tuesday. The company’s 50 day moving average price is $27.46 and its two-hundred day moving average price is $26.67. HBT Financial has a 12-month low of $22.36 and a 12-month high of $29.88. The firm has a market cap of $1.02 billion, a PE ratio of 12.92 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.20.

HBT Financial (NASDAQ:HBT) last announced its earnings results on Monday, April 27th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $67.84 million for the quarter, compared to analyst estimates of $66.75 million. HBT Financial had a net margin of 22.72% and a return on equity of 13.06%. Equities research analysts predict that HBT Financial will post 2.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Fred L. Drake sold 15,742 shares of HBT Financial stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $28.93, for a total transaction of $455,416.06. Following the completion of the transaction, the chairman owned 45,815 shares of the company’s stock, valued at $1,325,427.95. This trade represents a 25.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 51.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HBT Financial

A number of hedge funds have recently bought and sold shares of HBT. Heartland Bank & Trust Co raised its stake in HBT Financial by 857.6% during the first quarter. Heartland Bank & Trust Co now owns 160,487 shares of the company’s stock worth $4,288,000 after buying an additional 143,727 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in HBT Financial in the first quarter worth $3,349,000. Adage Capital Partners GP L.L.C. grew its holdings in HBT Financial by 51.1% in the fourth 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 during the period. Citadel Advisors LLC acquired a new stake in HBT Financial in the third quarter worth $725,000. Finally, Wells Fargo & Company MN grew its holdings in HBT Financial by 315.1% in the fourth quarter. Wells Fargo & Company MN now owns 36,449 shares of the company’s stock worth $942,000 after purchasing an additional 27,669 shares during the period. Institutional investors own 78.55% of the company’s stock.

HBT Financial Company Profile

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.