In recent trading activity, Roger A. Baker, a director at HBT Financial, Inc. (NASDAQ:HBT), sold a significant number of shares in the company. The transactions, which occurred over two consecutive days, resulted in the sale of a total of 10,000 shares of common stock, with the proceeds amounting to approximately $223,300.
On August 27, 2024, Baker sold 5,809 shares at an average price of $22.33 per share. The following day, he sold an additional 4,191 shares, also at an average price of $22.33. It's important to note that these sales were made at prices ranging from $22.08 to $22.51, representing a weighted average for investors to consider.
After these transactions, Baker still holds a substantial number of HBT Financial shares. The sales have adjusted his direct ownership in the company to 550,604 shares. Additionally, indirect holdings through trusts are reported, including 423,666 shares owned by the Mary Angela Baker 2021 Irrevocable Trust and 363 shares by the Roger A. Baker 2021 Irrevocable Trust.
These sales by a key executive are part of the regular financial disclosures that companies are required to make. Investors often monitor such insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects.
In other recent news, HBT Financial has declared a quarterly cash dividend of $0.19 per common share, continuing its practice of providing returns to shareholders. The company's recent financial performance has attracted the attention of several analysts. Piper Sandler raised its target for HBT Financial shares to $25.00, maintaining a neutral rating, and upgraded its 2025 earnings estimate for the company to $2.10 per share. Meanwhile, Raymond James upgraded HBT Financial shares from Market Perform to Outperform, setting a new price target of $23.00.
Keefe, Bruyette & Woods also adjusted their outlook on HBT Financial, increasing the price target to $27 from $25, following the company's recent earnings report. The company reported earnings per share (EPS) of $0.57, surpassing market expectations. DA Davidson increased its price target on HBT Financial to $26.00, citing solid loan growth and net interest margin levels.
These recent developments highlight growing confidence in HBT Financial's financial performance and potential for growth. However, as with all investments, shareholders are encouraged to consider this information in the context of their individual investment strategy and objectives.
InvestingPro Insights
Amidst the recent insider trading activity by Roger A. Baker at HBT Financial, Inc., investors may be seeking additional context to assess the company's financial health and future prospects. According to InvestingPro, analysts have recently adjusted their earnings estimates upwards for HBT Financial, suggesting a positive outlook for the company's upcoming period. This aligns with the director's continued substantial holdings even after the sale, indicating potential long-term confidence in the firm's performance.
Moreover, HBT Financial is currently trading at a low P/E ratio of 9.87, making it attractive relative to near-term earnings growth. This could be a point of interest for value investors looking for stocks that may be undervalued compared to their future growth potential. The company's strong return over the last three months, with a price total return of 17.56%, further supports the notion that investors have been recognizing its value.
InvestingPro Data provides additional insights into the company's financials. HBT Financial's market capitalization stands at $700.3 million, with a revenue growth of 2.31% over the last twelve months as of Q2 2024. Despite concerns over weak gross profit margins, the company has been profitable over the last twelve months, and analysts predict it will remain profitable this year.
For those interested in further analysis and tips, InvestingPro offers more than 5 additional InvestingPro Tips for HBT Financial, available at https://www.investing.com/pro/HBT. These tips could provide investors with a deeper understanding of the company's performance and help inform their investment decisions.
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