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Investing.com - Keefe, Bruyette & Woods (KBW) raised its price target on HBT Financial (NASDAQ:HBT) to $30.00 from $28.00 on Tuesday, while maintaining an Outperform rating on the stock.
The firm cited HBT Financial’s operating earnings of $0.63 per share, which exceeded expectations due to improved net interest income and slightly lower quarter-over-quarter expenses. The bank, which boasts a healthy 3.19% dividend yield and maintains "GREAT" financial health according to InvestingPro metrics, has shown consistent performance with revenue growth of 4.61% over the last twelve months.
KBW noted that loan growth remained challenging during the period, which was largely anticipated due to softer pipelines and higher-than-expected loan payoffs.
Despite weaker loan growth, the bank benefited from modest growth in securities at favorable levels and lower funding costs, which contributed to stronger net interest income performance.
KBW expects HBT Financial’s loan growth to improve in the second half of 2025, which should benefit the company’s margin, while the expense run rate is projected to be lower than previously modeled.
In other recent news, HBT Financial reported second-quarter earnings that exceeded analyst expectations. The company posted adjusted earnings per share of $0.63, surpassing the consensus estimate of $0.60. Although revenue was slightly below the expected $59.33 million, it reached $58.8 million, marking a 3.9% increase from the $56.6 million recorded in the same quarter last year. The net interest margin on a tax-equivalent basis improved to 4.19%, up 3 basis points from the previous quarter and 19 basis points year-over-year. Additionally, DA Davidson raised its price target for HBT Financial to $27 from $23, while maintaining a Neutral rating. The firm highlighted HBT Financial’s enhanced profitability and clean credit profile as positive aspects. DA Davidson also adjusted its forward earnings per share projections due to an anticipated rise in net interest income, despite tempered loan growth expectations. These developments reflect the company’s ongoing financial performance and strategic adjustments.
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