HBT Financial (HBT) AI Stock Analysis

• Market Cap: $754.68M
• Dividend Yield: 3.52%
• Average Volume (3M): 31.39K
• Price to Earnings (P/E): 9.7
• Beta (1Y): 0.93
• Revenue Growth: 3.86%
• EPS Growth: 12.33%
• Country: US
• Employees: 844
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.65
• Shares Outstanding: 31,431,925
• 10 Day Avg. Volume: 38,289
• 30 Day Avg. Volume: 31,394
• PEG Ratio: 1.06
• Price to Book (P/B): 1.27
• Price to Sales (P/S): 2.43
• P/FCF Ratio: 8.25
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 2.95
• Enterprise Value/Gross Profit: 4.82
• Enterprise Value/Ebitda: 7.53
• 1Y Price Target: $28.83
• Price Target Upside: 20.73% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): 2.47
• Revenue Forecast (FY): $238.83M

• Rating: 72 Outperform
• Price Target: $27.00 ▲(13.07% Upside)

HBT Financial's strong financial performance and attractive valuation are the primary drivers of its overall score. The company's robust revenue growth, profitability, and stable balance sheet position it well in the regional banking sector. However, technical indicators suggest some short-term weakness, which slightly offsets the positive financial and valuation aspects.

HBT Financial Business Overview & Revenue Model

Company Description

HBT Financial, Inc. operates as the bank holding company for Heartland Bank and Trust Company that provides business, commercial, and retail banking products and services to individuals, businesses, and municipal entities. The company's deposits accounts consist of noninterest-bearing demand deposits, interest-bearing transaction accounts, money market accounts, savings accounts, certificates of deposits, health savings accounts, and individual retirement accounts. Its loan offering comprises owner and non-owner occupied commercial real estate; construction and land development and multi-family; commercial and industrial; agricultural and farmland; and one-to-four family residential loans, as well as municipal, consumer, and other loans. The company also offers wealth management services, including financial planning to consumers, trusts, and estates; trustee and custodial; investment management; corporate retirement plan consulting and administration; and retail brokerage services. In addition, it provides farmland management, farmland sales, and crop insurance services; and treasury management services, as well as originates and sells residential mortgage loans. Further, the company offers digital banking services, such as online and mobile banking, and digital payment services, as well as personal financial management tools. It operates through 57 branch locations in Central and Northeastern Illinois and four locations in Eastern Iowa. The company was formerly known as Heartland Bancorp, Inc. and changed its name to HBT Financial, Inc. in September 2019. HBT Financial, Inc. was founded in 1920 and is headquartered in Bloomington, Illinois.

How the Company Makes Money

HBT Financial generates revenue through multiple streams primarily derived from interest income, fees, and commission-based services. The main source of revenue comes from interest on loans and mortgages offered to consumers and businesses, which is a standard practice in the banking industry. Additionally, the bank earns non-interest income through service fees associated with deposit accounts, transaction fees, and wealth management services. The company may also engage in investment activities that contribute to its earnings. Strategic partnerships with local businesses and community organizations enhance its market presence and customer base, further supporting its revenue generation efforts.

HBT Financial Financial Statement Overview

Summary

HBT Financial exhibits strong financial health with robust revenue growth and profitability. The balance sheet is stable with low leverage, and cash flow management remains efficient despite recent declines in free cash flow growth. Overall, the company is well-positioned in the regional banking sector, with a strong financial foundation and growth trajectory.

Income Statement

HBT Financial demonstrates strong revenue growth with a TTM growth rate of 18.5%, indicating robust expansion. The gross profit margin remains high at 78.3%, showcasing operational efficiency. Net profit margin is solid at 26.3%, reflecting profitability. EBIT and EBITDA margins are healthy, supporting strong earnings performance. Overall, the income statement reflects a well-managed and growing financial position.

Balance Sheet

The balance sheet shows a favorable debt-to-equity ratio of 0.17, indicating low leverage and financial stability. Return on equity is strong at 13.8%, suggesting effective use of equity capital. The equity ratio is solid, reflecting a stable financial structure. However, a slight decrease in stockholders' equity over the periods suggests a need for cautious monitoring.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth at -7.6% in the TTM, indicating potential cash flow management challenges. However, the operating cash flow to net income ratio remains positive, suggesting adequate cash generation relative to earnings. The free cash flow to net income ratio is high at 93.2%, reflecting efficient cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	283.23M	285.21M	263.64M	186.72M	164.23M	156.77M
Gross Profit	172.98M	219.33M	218.14M	179.54M	166.49M	139.77M
EBITDA	110.75M	103.17M	94.36M	80.11M	80.69M	53.75M
Net Income	78.34M	71.78M	65.84M	56.46M	56.27M	36.84M
Balance Sheet
Total Assets	5.04B	5.03B	5.07B	4.28B	4.31B	3.67B
Cash, Cash Equivalents and Short-Term Investments	815.50M	189.98M	901.22M	957.68M	1.35B	1.24B
Total Debt	60.16M	134.60M	147.33M	280.26M	138.29M	122.62M
Total Liabilities	4.44B	4.49B	4.58B	3.90B	3.90B	3.30B
Stockholders Equity	599.13M	544.61M	489.50M	373.63M	411.88M	363.92M
Cash Flow
Free Cash Flow	15.71M	83.87M	62.70M	71.54M	42.07M	29.39M
Operating Cash Flow	17.28M	89.37M	65.83M	72.59M	43.10M	31.25M
Investing Cash Flow	-63.46M	32.35M	132.66M	-335.12M	-349.61M	-380.45M
Financing Cash Flow	-39.53M	-125.28M	-171.40M	-32.57M	403.33M	377.68M

HBT Financial Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 23.88
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HBT, the sentiment is Negative. The current price of 23.88 is below the 20-day moving average (MA) of 24.01, below the 50-day MA of 24.72, and below the 200-day MA of 23.98, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 47.08 is Neutral, neither overbought nor oversold. The STOCH value of 45.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HBT.

HBT Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HBT	72 Outperform	$754.68M	9.70	13.78%	3.52%	3.86%	12.33%
MCB	71 Outperform	$687.71M	11.46	8.80%	0.44%	6.48%	8.78%
HFWA	70 Outperform	$749.09M	13.29	6.43%	4.29%	8.27%	54.96%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CPF	67 Neutral	$787.92M	12.09	11.65%	3.78%	1.22%	15.97%
HBNC	63 Neutral	$819.78M	―	-26.60%	4.00%	-78.71%	-913.67%
EQBK	59 Neutral	$786.52M	34.07	2.90%	1.51%	6.45%	8.32%

HBT Financial Corporate Events

HBT Financial Declares Quarterly Cash Dividend

On October 21, 2025, HBT Financial, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.21 per share on its common stock. The dividend will be payable on November 10, 2025, to shareholders recorded as of November 3, 2025, reflecting the company’s ongoing commitment to returning value to its shareholders.

The most recent analyst rating on (HBT) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on HBT Financial stock, see the HBT Stock Forecast page.

HBT Financial Reports Strong Q3 2025 Results

HBT Financial, Inc., headquartered in Bloomington, Illinois, operates as the holding company for Heartland Bank and Trust Company, providing a comprehensive suite of financial products and services across Illinois and eastern Iowa. The company has a strong presence in the banking sector with a focus on community banking.

HBT Financial Announces Merger with CNB Bank Shares

On October 20, 2025, HBT Financial announced a merger agreement with CNB Bank Shares, Inc., which will result in CNBN becoming a wholly-owned subsidiary of HBT. The merger, unanimously approved by both companies’ boards, is expected to enhance HBT’s market presence and operational capabilities. The merger agreement outlines the conversion of CNBN shares into HBT shares or cash, with an expected cash consideration of $33.8 million and stock consideration of 5.5 million HBT shares. The merger is subject to regulatory approvals and shareholder consent. Additionally, HBT Financial reported strong financial results for the third quarter of 2025, with net income of $19.8 million and a return on average assets of 1.56%. The company maintained strong asset quality and experienced loan growth, contributing to a 3.9% increase in tangible book value per share for the quarter.

The most recent analyst rating on (HBT) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on HBT Financial stock, see the HBT Stock Forecast page.

HBT Financial Announces Redemption of Subordinated Notes

On August 11, 2025, HBT Financial announced its intention to redeem all $40 million of its outstanding 4.50% Fixed-to-Floating Rate Subordinated Notes due 2030. The redemption is set for September 15, 2025, at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest, potentially impacting the company’s financial strategy and stakeholder interests.

The most recent analyst rating on (HBT) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on HBT Financial stock, see the HBT Stock Forecast page.