Fred L. Drake, the Executive Chairman of HBT Financial, Inc. (NASDAQ:HBT), has recently sold shares of the company's common stock valued at approximately $318,018. The transactions occurred on November 22 and November 25, with shares sold at prices ranging from $24.19 to $24.89.
The sales involved a total of 13,002 shares, reducing Drake's direct and indirect holdings. Following these transactions, Drake holds 73,670 shares indirectly through the Fred L. Drake Revocable Trust and 46,003 shares directly.
Drake also has an indirect interest in shares held by the Heartland Bancorp, Inc. Voting Trust, where he serves as trustee, overseeing 17,210,400 shares. He disclaims beneficial ownership except to the extent of his pecuniary interest.
In other recent news, HBT Financial announced a quarterly cash dividend of $0.19 per share and reported an operating income of $0.61 per share, exceeding analyst expectations. This was attributed to robust pre-provision net revenue and a reduced provision for credit losses. However, the bank's loan growth showed a decline of 2%.
Keefe, Bruyette & Woods maintained a positive outlook on HBT Financial, reaffirming its Outperform rating, while DA Davidson downgraded HBT Financial from Buy to Neutral due to concerns about the bank's sensitivity to interest rate changes. Piper Sandler adjusted its price target for the company's stock while maintaining a Neutral rating. The firm also increased its fourth-quarter 2024 earnings estimate for HBT Financial, citing higher core fee income expectations.
These are just some of the recent developments for HBT Financial. It's important for investors to stay informed about these changes as they plan their investment strategies. As always, it's recommended to rely on factual information and analyst prognostications when considering investment decisions.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on HBT Financial's current market position and performance. The company's stock has shown strong momentum, with a 17.34% price return over the past month and a substantial 28.63% return over the last six months. This upward trend has brought the stock price to 97.67% of its 52-week high, indicating robust investor confidence.
HBT Financial's financial metrics reveal a mixed picture. The company boasts a P/E ratio of 11.23, which is relatively low compared to its near-term earnings growth potential. This is highlighted by one of the InvestingPro Tips, suggesting that HBT might be undervalued based on its earnings prospects. Additionally, the company has demonstrated a commitment to shareholder returns, having raised its dividend for three consecutive years, with a current dividend yield of 3.07%.
However, investors should note that HBT's revenue growth has been negative, with a -3.93% decline in the last twelve months. Despite this, the company maintains a strong operating income margin of 43.92%, indicating efficient management of operating expenses.
For those seeking a deeper analysis, InvestingPro offers 9 additional tips on HBT Financial, providing a more comprehensive view of the company's financial health and market position. These insights could be particularly valuable given the recent insider selling activity by the Executive Chairman.
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