HBT Financial’s executive chairman Fred L. Drake sells $244,547 in stock

BLOOMINGTON, IL—Fred L. Drake, Executive Chairman of HBT Financial, Inc. (NASDAQ:HBT), recently sold shares in the company, according to a filing with the Securities and Exchange Commission. The transaction, which occurred on February 4, 2025, involved the sale of 9,945 shares of common stock at a weighted average price of $24.59, amounting to a total of $244,547. The sale comes as HBT trades near its 52-week high of $25.35, with the stock showing strong momentum, up 35% over the past year according to InvestingPro data.

Following the sale, Drake holds 43,670 shares indirectly through the Fred L. Drake Revocable Trust and 46,003 shares directly. Additionally, 17,210,400 shares are held by the Heartland Bancorp, Inc. Voting Trust, where Drake serves as the trustee. He exercises sole voting and investment control over these shares, although he disclaims beneficial ownership except to the extent of his pecuniary interest. The bank maintains a healthy 3.4% dividend yield and has raised its dividend for three consecutive years.

Drake’s transactions are part of routine management of his holdings in HBT Financial, a company that operates as a state commercial bank. Investors often monitor such insider transactions to gauge the sentiment of company executives. InvestingPro analysis shows the company maintains a "GREAT" financial health score, with three analysts recently revising earnings estimates upward for the upcoming period.

In other recent news, HBT Financial has been in the spotlight due to its impressive operating earnings and new stock repurchase program. The company reported operating earnings of $0.62 per share, exceeding market estimates by $0.04 per share, a result of performance improvements across all components of Pre-Provision Net Revenue (PPNR). Additionally, HBT Financial unveiled a new stock repurchase program, set to start following the conclusion of its current plan on January 1, 2025, allowing the company to buy back up to $15 million of its common stock.

Keefe, Bruyette & Woods analyst Damon DelMonte upgraded the price target on HBT Financial shares to $28 from the previous $27, maintaining an Outperform rating on the stock. This adjustment follows the company’s recent earnings announcement. The firm also confirmed their Outperform rating and a $27.00 price target for HBT Financial, citing the company’s new stock repurchase program as a positive move demonstrating the company’s commitment to capital return strategies.

These recent developments point to a positive trajectory for HBT Financial. Analysts at Keefe expect the company’s positive trends to persist, contributing to a 4% increase in Net Interest Income (NII). The new repurchase program is anticipated to provide HBT Financial with continued capital flexibility and potentially benefit future earnings. However, the company retains discretion over the repurchase decisions and is under no obligation to repurchase any specific number of shares.

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