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

HBT Financial (NASDAQ:HBT) had its price target lowered by analysts at Piper Sandler from $25.00 to $24.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 11.63% from the company’s current price.

A number of other research analysts have also issued reports on HBT. JPMorgan Chase & Co. increased their target price on HBT Financial from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. DA Davidson lowered shares of HBT Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $26.00 to $24.00 in a research report on Wednesday, September 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $27.00 target price (up previously from $25.00) on shares of HBT Financial in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.40.

HBT Financial Stock Performance

Shares of HBT stock traded up $0.02 on Tuesday, hitting $21.50. The company had a trading volume of 1,350 shares, compared to its average volume of 28,152. HBT Financial has a twelve month low of $17.69 and a twelve month high of $24.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm has a market cap of $679.21 million, a P/E ratio of 9.51 and a beta of 0.86. The company has a 50-day moving average price of $21.91 and a 200-day moving average price of $20.66.

HBT Financial (NASDAQ:HBT) last posted its earnings results 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. The firm had revenue of $72.43 million during the quarter, compared to analysts’ expectations of $56.82 million. HBT Financial had a net margin of 25.61% and a return on equity of 15.53%. During the same period in the previous year, the business posted $0.58 EPS. As a group, equities research analysts predict that HBT Financial will post 2.28 earnings per share for the current fiscal year.

Insider Activity at HBT Financial

In other HBT Financial news, Director Patrick F. Busch sold 11,555 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $24.09, for a total value of $278,359.95. Following the transaction, the director now directly owns 190,000 shares of the company’s stock, valued at $4,577,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 59.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HBT Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC increased its holdings in shares of HBT Financial by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 14,605 shares of the company’s stock worth $287,000 after buying an additional 541 shares during the last quarter. Vanguard Group Inc. boosted its stake in HBT Financial by 0.8% during the first quarter. Vanguard Group Inc. now owns 626,575 shares of the company’s stock worth $11,930,000 after buying an additional 5,183 shares during the period. SG Americas Securities LLC purchased a new stake in shares of HBT Financial in the 3rd quarter valued at approximately $122,000. American Century Companies Inc. lifted its holdings in shares of HBT Financial by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 119,698 shares of the company’s stock worth $2,444,000 after acquiring an additional 5,859 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of HBT Financial in the 1st quarter worth approximately $183,000. 78.55% of the stock is currently owned by institutional investors and hedge funds.

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.