HBT financial executive chairman Fred L. Drake sells $322,746 in stock

Fred L. Drake, Executive Chairman of HBT Financial, Inc. (NASDAQ:HBT), recently executed a series of stock sales totaling $322,746. The transactions, disclosed in a recent SEC filing, involved the sale of 12,825 shares of common stock. The shares were sold at a range of prices between $25.15 and $25.22. The sales come as HBT's stock shows strong momentum, with a 34% return over the past year and a market capitalization of $796 million. According to InvestingPro analysis, the company maintains a "GREAT" financial health score of 3.07 out of 4.

Following these transactions, Drake holds 20,000 shares indirectly through the Fred L. Drake Revocable Trust. Additionally, he maintains indirect control over 17,210,400 shares through the Heartland Bancorp, Inc. Voting Trust, where he serves as trustee. InvestingPro data reveals HBT offers a 3.3% dividend yield and has raised its dividend for three consecutive years, with analysts maintaining a positive outlook for the company's profitability.

These sales are part of routine financial management, as noted in the filing, and Drake retains a significant stake in the company.

In other recent news, HBT Financial has made notable strides in their financial performance and strategic planning. The company reported operating earnings of $0.62 per share, surpassing market estimates by $0.04 per share. This was primarily due to improvements across all three components of Pre-Provision Net Revenue (PPNR) and a slightly better-than-expected provision. The company also saw an 11% quarter-over-quarter increase in loan growth and a 4% rise in deposit growth.

Analysts at Keefe, Bruyette & Woods have responded to these developments by upgrading the price target for HBT Financial's shares to $28 from the previous $27, while maintaining an Outperform rating. They anticipate these positive trends to continue, enhancing the company's outlook in the upcoming quarters.

In addition to these financial results, HBT Financial announced a new stock repurchase program set to commence in 2025. The program will allow the company to buy back up to $15 million of its common stock until 2026. This move demonstrates HBT Financial's commitment to capital return strategies and is expected to provide continued capital flexibility. Keefe, Bruyette & Woods analysts also reiterated their Outperform rating on HBT Financial's stock, citing potential growth from this planned buyback.

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