BLOOMINGTON, IL – Patrick F. Busch, a director at HBT Financial, Inc. (NASDAQ:HBT), has sold a total of 11,555 shares of company stock on July 24, 2024, for an aggregate sale price of $278,359. The shares were sold at a weighted average price of $24.09, with individual transactions ranging from $23.56 to $24.44 per share.
The sale was disclosed in a regulatory filing with the Securities and Exchange Commission. Following the sale, Busch's direct holdings in HBT Financial are reported to be 190,000 shares. Additionally, he holds 52,699 shares indirectly through ownership structures, such as trusts.
Investors closely monitor insider transactions as they can provide insights into a company's financial health and executive confidence. In this case, the sale by Busch represents a significant transaction, though it is not immediately clear what has motivated the director to reduce his position in the company.
HBT Financial, Inc., headquartered in Bloomington, Illinois, operates as a state commercial bank and has been serving its community under various names since its inception. The company's stock trades on the NASDAQ under the ticker symbol HBT.
The SEC filing indicates that full information regarding the number of shares sold at each separate price within the stated range is available upon request, providing transparency into the specifics of the transaction.
For investors tracking insider activity, these transactions can be an important factor to consider as part of their investment decision-making process.
In other recent news, HBT Financial has announced a quarterly cash dividend of $0.19 per share, a move that continues the company's tradition of rewarding its shareholders. This distribution is set to occur to shareholders of record as of early August. In terms of analyst attention, Piper Sandler has raised its target for HBT Financial shares to $25.00, maintaining a neutral rating. This adjustment comes on the heels of HBT Financial's robust second-quarter performance and the company's potential to cushion future Net Interest Margin (NIM) compression. Additionally, the firm has increased its 2025 earnings estimate for HBT Financial to $2.10 per share, an anticipation of improved operating expenses. Further analyst attention comes from Raymond James, upgrading HBT Financial shares from Market Perform to Outperform, setting a new price target of $23.00. This upgrade is attributed to the bank's disciplined credit culture and potential for future mergers and acquisitions. These recent developments underscore the growing confidence in HBT Financial's prospects, highlighting the bank's profitability and growth potential.
InvestingPro Insights
The recent insider sale at HBT Financial, Inc. (NASDAQ:HBT) by director Patrick F. Busch has caught the attention of investors, shedding light on the company's stock activity and potential outlook. In light of this event, several metrics and tips from InvestingPro may offer additional context for investors considering HBT Financial's stock.
InvestingPro Data indicates that analysts have recently revised their earnings expectations upwards for the upcoming period, signaling a positive sentiment around the company's financial performance. Additionally, the stock is currently trading at a low P/E ratio relative to its near-term earnings growth, which could suggest that the shares are undervalued based on the company's earnings potential.
On the performance front, HBT Financial has enjoyed a strong return over the last month, as well as over the last three months. This trend reflects a robust short-term performance that may be of interest to investors looking for momentum in their stock picks. Furthermore, analysts predict that HBT Financial will be profitable this year, adding to the company's appeal for those seeking profitable investment opportunities.
However, it's important to note that HBT Financial suffers from weak gross profit margins, an aspect that could affect the company's long-term profitability and operational efficiency. Investors should weigh this against the company's strong recent returns and the positive earnings revisions.
For a more comprehensive analysis, investors can access additional InvestingPro Tips for HBT Financial by visiting https://www.investing.com/pro/HBT. There are 6 more tips available that could further inform investment decisions. To benefit from the full range of insights, consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.