HBT Financial, Inc. (NASDAQ:HBT), a state commercial banking institution, announced a quarterly cash dividend of $0.19 per share on its common stock. The dividend declaration was made by the company's Board of Directors on Monday and is scheduled to be paid on November 12, 2024, to shareholders of record as of November 4, 2024.
Investors holding shares of HBT Financial will be eligible for the dividend if they own the stock before the ex-dividend date, which typically precedes the record date. It is important for investors to be aware of these dates as they plan their investment strategies.
The announcement of the dividend payment is based on a press release statement and does not imply any endorsement of the company's financial health or future performance.
In other recent news, HBT Financial has experienced a series of significant developments. The company's recent earnings report revealed an operating income of $0.61 per share, surpassing analyst expectations. This was attributed to robust pre-provision net revenue and a reduced provision for credit losses.
Keefe, Bruyette & Woods maintained a positive outlook on HBT Financial, reaffirming its Outperform rating. However, DA Davidson downgraded HBT Financial from Buy to Neutral due to concerns about the bank's sensitivity to interest rate changes.
HBT Financial's credit quality remained solid, with a 2% decrease in nonperforming assets. However, loan growth showed a decline of 2%. 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 adjustments reflect the bank's strong performance and its potential to cushion future Net Interest Margin compression.
InvestingPro Insights
HBT Financial's recent dividend announcement aligns with its attractive dividend profile. According to InvestingPro data, the company currently offers a dividend yield of 3.46% and has demonstrated strong dividend growth, with an 11.76% increase over the last twelve months. This commitment to shareholder returns is further supported by the company's solid financial position.
InvestingPro Tips highlight that HBT Financial is trading at a low P/E ratio relative to its near-term earnings growth, with a current P/E ratio of 9.76. This suggests that the stock may be undervalued compared to its earnings potential. Additionally, analysts have revised their earnings upwards for the upcoming period, indicating positive expectations for the company's financial performance.
Despite these strengths, it's worth noting that HBT Financial suffers from weak gross profit margins, which could impact its ability to sustain dividend growth in the long term. Investors considering HBT Financial may find value in exploring the additional 13 tips available on InvestingPro for a more comprehensive analysis of the company's financial health and prospects.
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