Hawthorn Bancshares (HWBK)
NASDAQ:HWBK
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Hawthorn Bancshares
(NASDAQ:HWBK)
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Rating:70Outperform
Price Target:
$37.00
▲(10.28% Upside)
Action:UpgradedDate:04/30/26
The score is driven primarily by improved financial performance (strong recent growth and profitability, with better leverage) but tempered by historical earnings/cash-flow volatility. Valuation is supportive with a low P/E and a moderate dividend yield. Technicals are neutral, while recent corporate events add a positive catalyst via solid Q1 results and an accretive acquisition (with standard integration and approval risks).
Positive Factors
Margin recovery & revenue step-up
A sharp revenue step-up and net margin recovery to ~21% in 2025 signal materially stronger core profitability across lending and fee businesses. Sustained higher margins improve cash generation and internal funding capacity, supporting reinvestment, dividends, and resilience through business cycles.
Negative Factors
Earnings and cash-flow volatility
Significant swings—strong 2021–22, a deep 2023 trough, then a rebound—point to unstable earnings drivers. Free cash flow coverage and operating cash conversion have been inconsistent, reducing predictability of cash generation and complicating capital allocation, dividend visibility, and investor confidence.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin recovery & revenue step-up
A sharp revenue step-up and net margin recovery to ~21% in 2025 signal materially stronger core profitability across lending and fee businesses. Sustained higher margins improve cash generation and internal funding capacity, supporting reinvestment, dividends, and resilience through business cycles.
Read all positive factors
Hawthorn Bancshares (HWBK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$230.81M
Dividend Yield2.39%
Average Volume (3M)9.63K
Price to Earnings (P/E)8.6
Beta (1Y)0.39
Revenue Growth3.84%
EPS Growth32.74%
CountryUS
Employees255
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.42
Shares Outstanding6,889,810
10 Day Avg. Volume15,383
30 Day Avg. Volume9,627
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)1.40
Price to Sales (P/S)2.17
P/FCF Ratio10.67
Enterprise Value/Market Cap1.22
Enterprise Value/Revenue2.51
Enterprise Value/Gross Profit3.51
Enterprise Value/Ebitda8.96
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hawthorn Bancshares Business Overview & Revenue Model
Company Description
Hawthorn Bancshares, Inc. operates as the bank holding company for Hawthorn Bank that provides commercial and personal banking services. It accepts checking, savings, money market, individual retirement, and other time deposit accounts; and certif...
How the Company Makes Money
Hawthorn Bancshares makes money primarily through its banking subsidiary by earning interest income and fee-based (noninterest) income. The core revenue stream is net interest income: the bank collects interest on loans (such as commercial real es...
Hawthorn Bancshares Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 112.08M | 109.67M | 87.96M | 83.22M | 81.39M |
| Gross Profit | 79.95M | 71.88M | 52.79M | 73.63M | 77.18M |
| EBITDA | 31.34M | 24.01M | 2.54M | 27.23M | 30.50M |
| Net Income | 23.80M | 18.26M | 956.00K | 20.75M | 22.52M |
Balance Sheet | |||||
| Total Assets | 1.89B | 1.83B | 1.88B | 1.92B | 1.83B |
| Cash, Cash Equivalents and Short-Term Investments | 177.90M | 270.65M | 282.19M | 337.38M | 468.85M |
| Total Debt | 155.46M | 132.69M | 157.70M | 154.21M | 152.57M |
| Total Liabilities | 1.72B | 1.68B | 1.74B | 1.80B | 1.68B |
| Stockholders Equity | 174.23M | 149.55M | 136.09M | 127.41M | 148.96M |
Cash Flow | |||||
| Free Cash Flow | 22.84M | 22.59M | 15.51M | 17.71M | 29.62M |
| Operating Cash Flow | 26.92M | 25.59M | 17.61M | 20.28M | 30.21M |
| Investing Cash Flow | -6.86M | 1.25M | 54.19M | -206.53M | -127.53M |
| Financing Cash Flow | 33.26M | -69.30M | -62.07M | 110.07M | 76.87M |
Hawthorn Bancshares Technical Analysis
Positive
33.55
Price Trends
33.80
Positive
33.57
Positive
31.78
Positive
Market Momentum
0.33
Negative
59.45
Neutral
73.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HWBK, the sentiment is Positive. The current price of 33.55 is below the 20-day moving average (MA) of 33.81, below the 50-day MA of 33.80, and above the 200-day MA of 31.78, indicating a bullish trend. The MACD of 0.33 indicates Negative momentum. The RSI at 59.45 is Neutral, neither overbought nor oversold. The STOCH value of 73.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HWBK.
Hawthorn Bancshares Risk Analysis
Hawthorn Bancshares disclosed 38 risk factors in its most recent earnings report. Hawthorn Bancshares reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hawthorn Bancshares Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $245.13M | 9.20 | 7.26% | 3.50% | 0.47% | 71.88% | |
72 Outperform | $247.47M | 8.78 | 11.04% | 2.55% | 9.67% | 30.37% | |
70 Outperform | $230.81M | 8.59 | 14.66% | 2.39% | 3.84% | 32.74% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $247.48M | 8.10 | 5.28% | ― | 1.81% | -5.15% | |
65 Neutral | $232.08M | 12.39 | 8.48% | 5.32% | -2.49% | 41.90% | |
53 Neutral | $280.25M | 12.25 | 17.78% | 2.07% | 12.56% | 28.20% |
* Financial Sector Average
HWBK
Hawthorn Bancshares
33.50
4.85
16.91%
CFFI
C&F Financial
76.01
11.56
17.93%
FCCO
First Community
29.87
6.19
26.16%
LCNB
LCNB
16.30
2.30
16.40%
BPRN
Bank of Princeton
36.11
6.29
21.09%
CBNA
Chain Bridge Bancorp, Inc. Class A
37.75
12.29
48.27%
Hawthorn Bancshares Corporate Events
DividendsFinancial Disclosures
Hawthorn Bancshares Posts Strong Q1 2026 Earnings Growth
Positive
Apr 29, 2026
On April 29, 2026, Hawthorn Bancshares reported first-quarter 2026 net income of $6.8 million, up 25.9% from a year earlier, with diluted EPS rising to $0.98 and efficiency improving as higher net interest margin and stronger non-interest income o...
Business Operations and StrategyExecutive/Board Changes
Hawthorn Bancshares Adds Veteran Banker to Board
Positive
Apr 29, 2026
On April 29, 2026, Hawthorn Bancshares, Inc. and its subsidiary Hawthorn Bank expanded their boards by one seat each and appointed Kansas City–based investor and former community banking executive Grant T. Burcham as a Class III director, wi...
Business Operations and StrategyM&A Transactions
Hawthorn Bancshares to Acquire FSC Bancshares in Merger
Positive
Apr 29, 2026
On April 29, 2026, Hawthorn Bancshares, Inc. announced an agreement to acquire FSC Bancshares, Inc. in a cash-and-stock transaction valued at about $28.3 million, with FSC shareholders set to receive $14 million in cash and 413,101 Hawthorn shares...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.