HBT Financial (HBT) AI Stock Analysis

• Market Cap: $848.03M
• Dividend Yield: 3.21%
• Average Volume (3M): 35.33K
• Price to Earnings (P/E): 11.1
• Beta (1Y): 0.87
• Revenue Growth: 3.86%
• EPS Growth: 12.33%
• Country: US
• Employees: 844
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.64
• Shares Outstanding: 31,431,925
• 10 Day Avg. Volume: 46,377
• 30 Day Avg. Volume: 35,325
• 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: 1.08
• Enterprise Value/Revenue: 3.14
• Enterprise Value/Gross Profit: 3.96
• Enterprise Value/Ebitda: 8.21
• 1Y Price Target: $29.75
• Price Target Upside: 6.55% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 79 Outperform
• Price Target: $31.00 ▲(11.03% Upside)

The score is driven primarily by strong financial performance (high revenue growth and solid profitability with low leverage), supported by attractive valuation (low P/E and ~3.1% yield). Corporate events are positive (acquisition progress, dividend raise, and new buyback authorization), while technicals are constructive but not strongly bullish.

Positive Factors

Revenue & profitability

Sustained high revenue growth and industry-leading margins indicate strong core banking momentum and effective cost control. These fundamentals support reinvestment, dividend capacity and balance-sheet buildout, making earnings power relatively durable across economic cycles.

Conservative leverage and ROE

Very low leverage and a mid-teens ROE provide financial resilience and capital efficiency. Conservative funding reduces solvency and interest rate risks, enabling steady capital returns and strategic flexibility even if credit or rate conditions deteriorate.

Capital returns and strategic M&A

Active shareholder-return policy plus a strategic acquisition that expands Chicago/St. Louis footprints signal management confidence and a growth plan. If executed well, M&A and buybacks can compound returns and strengthen market position over the medium term.

Negative Factors

Free cash flow weakness

Falling free cash flow growth and weak operating cash conversion raise concerns about sustainable internal funding for lending growth, dividends and buybacks. Over months, weaker cash generation can force trade-offs between growth investments and shareholder returns.

Volatile noninterest income

Dependence on mortgage servicing valuations and other noninterest fees makes fee revenue cyclical and sensitive to mortgage markets and accounting swings. This increases earnings volatility and complicates multi-quarter planning for margins and capital deployment.

Acquisition integration and cost risk

The pending CNB Bank acquisition brings geographic scale but also near-term integration costs, system conversions and execution risk. Poor integration could raise expense ratios, disrupt customer retention, or delay projected revenue synergies over the medium term.

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 several key streams. Primarily, the company earns interest income from loans provided to customers, including personal loans, mortgages, and commercial loans. In addition to interest income, HBT also generates fee-based revenue from various banking services such as account maintenance fees, transaction fees, and wealth management services. The bank may also benefit from investment banking activities and asset management fees. Partnerships with other financial institutions and local businesses enhance HBT's service offerings and can contribute to its overall earnings by expanding its customer base and increasing transaction volumes.

HBT Financial Financial Statement Overview

Summary

Strong profitability and growth (TTM revenue growth 54.1%, net margin 27.66%) and conservative leverage (debt-to-equity 0.10) support the score. It’s held back by weaker cash-flow trends (TTM free cash flow growth -11.95%) and a relatively low equity ratio (11.89%).

Income Statement

HBT Financial shows strong revenue growth with a TTM revenue growth rate of 54.1%, indicating robust expansion. The gross profit margin is healthy at 61.07%, and the net profit margin is solid at 27.66%, reflecting efficient cost management. EBIT and EBITDA margins are also strong, suggesting operational efficiency. However, the slight decline in gross profit margin compared to previous years could be a point of concern.

Balance Sheet

The company's balance sheet is stable with a low debt-to-equity ratio of 0.10, indicating conservative leverage. Return on equity is strong at 13.69%, showcasing effective utilization of equity. The equity ratio stands at 11.89%, which is relatively low, suggesting a higher reliance on liabilities. Overall, the balance sheet reflects a sound financial position with manageable debt levels.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 11.95% in the TTM, which could indicate potential cash flow challenges. However, the free cash flow to net income ratio is high at 90.88%, demonstrating good cash generation relative to net income. The operating cash flow to net income ratio is low, suggesting room for improvement in cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	292.82M	285.21M	263.64M	186.72M	164.23M	156.77M
Gross Profit	231.96M	219.33M	218.14M	180.25M	166.49M	139.77M
EBITDA	111.87M	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	4.29B	4.31B	3.67B
Cash, Cash Equivalents and Short-Term Investments	644.36M	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	3.91B	3.90B	3.30B
Stockholders Equity	599.13M	544.61M	489.50M	373.63M	411.88M	363.92M
Cash Flow
Free Cash Flow	71.22M	83.87M	62.70M	71.54M	42.07M	29.39M
Operating Cash Flow	78.45M	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: Positive
• Last Price: 27.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HBT, the sentiment is Positive. The current price of 27.92 is above the 20-day moving average (MA) of 26.96, above the 50-day MA of 26.01, and above the 200-day MA of 24.76, indicating a bullish trend. The MACD of 0.35 indicates Positive momentum. The RSI at 60.57 is Neutral, neither overbought nor oversold. The STOCH value of 33.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HBT.

HBT Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HBT	79 Outperform	$848.03M	11.06	13.78%	3.21%	3.86%	12.33%
CPF	79 Outperform	$873.77M	11.39	11.65%	3.39%	1.22%	15.97%
HFWA	76 Outperform	$876.42M	13.17	6.43%	3.91%	8.27%	54.96%
MCB	71 Outperform	$953.59M	13.99	8.80%	0.38%	6.48%	8.78%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
EQBK	63 Neutral	$879.80M	37.50	2.90%	1.34%	6.45%	8.32%
HBNC	57 Neutral	$902.45M	-5.70	-26.60%	3.50%	-78.64%	-913.67%

HBT Financial Corporate Events

HBT Financial Nears Completion of CNB Bank Shares Acquisition

On October 20, 2025, HBT Financial, Inc. entered into a merger agreement to acquire CNB Bank Shares, Inc. and its wholly owned bank subsidiary, CNB Bank & Trust, N.A., marking a strategic expansion of HBT’s community banking footprint. CNB shareholders approved the deal on January 26, 2026, and by January 30, 2026, all required regulatory approvals had been obtained, leaving only customary closing conditions before an expected closing on or around February 27, 2026, a step that is set to further consolidate HBT’s presence in its regional banking markets and potentially enhance its scale and competitive position for customers and investors.

The most recent analyst rating on (HBT) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on HBT Financial stock, see the HBT Stock Forecast page.

HBT Financial Raises Quarterly Dividend, Boosting Shareholder Returns

On January 27, 2026, HBT Financial, Inc.’s board of directors approved a quarterly cash dividend of $0.23 per share on its common stock, payable on February 17, 2026, to shareholders of record as of February 9, 2026. The move, which raises the quarterly payout by $0.02 from the prior $0.21 per share, signals a higher capital return to shareholders and may indicate management’s confidence in the company’s financial performance and outlook.

The most recent analyst rating on (HBT) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on HBT Financial stock, see the HBT Stock Forecast page.

HBT Financial reports Q4 2025 earnings and growth

On January 26, 2026, HBT Financial reported fourth-quarter 2025 net income of $18.9 million, or $0.60 per diluted share, down slightly from both the prior quarter and the year-earlier period, while adjusted net income rose year over year to $20.1 million, or $0.64 per diluted share. The bank posted strong profitability metrics with an adjusted return on average assets of 1.57% and adjusted return on average tangible common equity of 14.97%, supported by loan growth of $56.2 million on an annualized 6.6% basis, stable credit quality with nonperforming assets at 0.17% of total assets and annualized net charge-offs of 0.10%, and a still-robust net interest margin of 4.12% despite modest compression. Net interest income increased both sequentially and versus the fourth quarter of 2024, driven by lower funding costs and higher interest-earning assets, while noninterest income was essentially flat quarter over quarter and lower year over year due mainly to less favorable mortgage servicing rights fair value adjustments. Operating expenses rose due to $1.0 million of acquisition-related costs and higher compensation and benefits, although underlying noninterest expense excluding acquisition items declined sequentially. The company highlighted a 16.2% year-over-year increase in tangible book value per share to $17.20 and said it is progressing with its pending acquisition of CNB Bank Shares, Inc., which is expected to close and convert systems in the first quarter of 2026 and significantly deepen HBT’s presence in the Chicago and St. Louis markets while adding new central Illinois markets.

The most recent analyst rating on (HBT) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on HBT Financial stock, see the HBT Stock Forecast page.

HBT Financial Authorizes New $30 Million Share Repurchase

On December 16, 2025, HBT Financial, Inc. approved a new stock repurchase program that will take effect when its existing buyback plan expires on January 1, 2026, authorizing the repurchase of up to $30 million of its common stock through January 1, 2027. The program allows management to buy shares in the open market or through privately negotiated transactions, subject to market conditions, pricing, trading volume and regulatory requirements, and while it signals ongoing capital management efforts that could support shareholder value and earnings-per-share, the company is not obligated to repurchase any specific amount and may suspend or discontinue the plan at any time without notice.

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.