HBT Financial (NASDAQ:HBT) Posts Quarterly Earnings Results, Meets Expectations

HBT Financial (NASDAQ:HBT) posted its quarterly earnings results on Monday. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64, FiscalAI reports. The firm had revenue of $61.46 million during the quarter, compared to analyst estimates of $61.00 million. HBT Financial had a net margin of 26.64% and a return on equity of 13.81%.

HBT Financial Stock Performance

Shares of HBT stock opened at $26.76 on Tuesday. The business’s 50-day moving average price is $25.83 and its 200-day moving average price is $25.34. HBT Financial has a 12 month low of $19.46 and a 12 month high of $29.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $841.07 million, a price-to-earnings ratio of 10.79 and a beta of 0.58.

HBT Financial declared that its board has approved a stock repurchase plan on Thursday, December 18th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On HBT Financial

A number of institutional investors have recently made changes to their positions in HBT. Jane Street Group LLC bought a new position in HBT Financial during the 1st quarter worth approximately $286,000. Bank of America Corp DE boosted its position in HBT Financial by 34.6% during the second quarter. Bank of America Corp DE now owns 12,003 shares of the company’s stock valued at $303,000 after acquiring an additional 3,085 shares during the last quarter. AQR Capital Management LLC raised its position in shares of HBT Financial by 17.4% in the 1st quarter. AQR Capital Management LLC now owns 15,554 shares of the company’s stock worth $349,000 after acquiring an additional 2,307 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of HBT Financial by 6.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 16,150 shares of the company’s stock valued at $407,000 after purchasing an additional 1,003 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of HBT Financial by 6.0% during the 2nd quarter. First Trust Advisors LP now owns 20,301 shares of the company’s stock valued at $512,000 after purchasing an additional 1,155 shares in the last quarter. Institutional investors own 78.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on HBT. DA Davidson set a $27.00 target price on HBT Financial in a research note on Tuesday, October 21st. Piper Sandler lowered their target price on HBT Financial from $29.00 to $27.50 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Raymond James Financial raised shares of HBT Financial from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of HBT Financial in a research report on Thursday. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, HBT Financial has an average rating of “Moderate Buy” and an average price target of $28.50.

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.