Overview
HBT Financial Q3 adjusted EPS of $0.65 beats analyst expectations
Adjusted net income for Q3 was $20.5 mln, surpassing analyst estimates
CNB Bank to merge into HBT in $170.2 million stock and cash deal
Outlook
HBT Financial announces merger agreement with CNB Bank Shares
Company confident in handling various economic environments
Result Drivers
ASSET QUALITY - Strong asset quality with nonperforming assets at 0.17% and net charge-offs at 0.02% of average loans
LOAN GROWTH - Loan growth returned with quarter-end loans increasing 6.2% annualized due to higher loan pipelines and fewer payoffs
DEBT SECURITIES YIELDS - Improved yields on debt securities contributed positively to net interest margin
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Beat | $0.65 | $0.61 (5 Analysts) |
Q3 EPS | $0.63 | ||
Q3 Adjusted Net Income | Beat | $20.45 mln | $19.59 mln (5 Analysts) |
Q3 Net Income | $19.76 mln | ||
Q3 Net Interest Income | $49.98 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for HBT Financial Inc is $30.00, about 21.3% above its October 17 closing price of $23.60
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nGNX2ywvF
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)