HBT financial executive chairman Fred L. Drake sells shares for $150,625

Fred L. Drake, the Executive Chairman of HBT Financial, Inc. (NASDAQ:HBT), has recently sold a portion of his holdings in the company. According to the latest SEC filing, Drake sold 5,845 shares of HBT Financial’s common stock at an average price of $25.77 per share, resulting in a total transaction value of $150,625. The sale occurred as HBT’s stock trades near its 52-week high of $26.25, with the company showing strong momentum through a 35.65% return over the past year. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment. Following this sale, Drake retains indirect ownership of 37,825 shares through the Fred L. Drake Revocable Trust. Additionally, he holds 46,003 shares directly and 17,210,400 shares indirectly through the Heartland Bancorp, Inc. Voting Trust, where he serves as trustee. The $774.47 million market cap company maintains a healthy 3.37% dividend yield and boasts a GREAT financial health score according to InvestingPro, which offers additional insights and metrics for investors seeking deeper analysis.

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, surpassing market expectations by $0.04 per share. This was largely due to an 11% quarter-over-quarter increase in loan growth and a 4% rise in deposit growth. Keefe, Bruyette & Woods analyst Damon DelMonte responded by upgrading the price target on HBT Financial shares to $28, maintaining an Outperform rating.

In addition, HBT Financial announced a new stock repurchase program set to commence in 2025. This program will allow the company to buy back up to $15 million of its common stock. Keefe, Bruyette & Woods reiterated their Outperform rating, citing the potential for growth from this planned buyback.

These are all recent developments for HBT Financial. As per these reports, the company’s net interest margin has improved more than anticipated, and the new repurchase program will provide HBT Financial with continued capital flexibility. Keefe, Bruyette & Woods analysts anticipate these positive trends to persist, enhancing the company’s outlook in the upcoming quarters.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.