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Patrick F. Busch, a director at HBT Financial, Inc. (NASDAQ:HBT), recently sold 8,000 shares of the company’s common stock. The shares were sold at an average price of $24.77, resulting in a total transaction value of $198,160. The transaction comes as HBT’s stock trades near its 52-week high of $25.52, with the company showing strong momentum, up 25.6% over the past six months. According to InvestingPro analysis, HBT currently appears undervalued despite its recent price strength. Following this sale, Busch retains ownership of 182,000 shares indirectly through a trust and 52,699 shares directly. The sales were executed on February 5, 2025, according to a Form 4 filing with the Securities and Exchange Commission. With a market capitalization of $809 million and a P/E ratio of 11.3, HBT maintains a "GREAT" financial health score on InvestingPro, which offers additional insights through 8 more exclusive ProTips about the company’s performance and outlook.
In other recent news, HBT Financial has been the subject of several significant developments. The company recently reported operating earnings of $0.62 per share, outperforming estimates by $0.04 per share, a success attributed to a comprehensive performance improvement across all three components of Pre-Provision Net Revenue (PPNR) and a slightly better-than-expected provision. This performance was accompanied by an 11% quarter-over-quarter increase in loan growth and a 4% rise in deposit growth.
Keefe, Bruyette & Woods analyst Damon DelMonte raised the price target on HBT Financial shares to $28 from the previous $27, while maintaining an Outperform rating on the stock. This adjustment is a reflection of the company’s strong earnings and the expectation that positive trends will continue, enhancing the company’s outlook in the upcoming quarters.
In addition to its strong earnings, HBT Financial announced a new stock repurchase program. This new authorization, set to commence after the current authorization concludes on January 1, 2025, will enable the company to buy back up to $15 million of its common stock until January 1, 2026. Keefe, Bruyette & Woods reiterated their Outperform rating and expressed confidence in the company’s growth potential, citing the stock repurchase program as a positive move demonstrating the company’s commitment to returning value to its shareholders. These are some of the recent developments indicating HBT Financial’s robust growth trajectory.
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