HBT
HBT Financial, Inc.Financial Services·Banks - Regional
$28.63
$900M market cap
Revenue
$157.0M
Free Cash Flow
$45.1M
Rev Growth
+0.0%
FCF Margin
28.7%
P/FCF
19.9x
EV/FCF
-0.2x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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 ow
2-Year Price History
$28.36+59.9%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 82.7 | 15.1 | 15.1 | 11.2 | 28.5 | 25.8 | -2.7 | 1,063 | 154.3 | 33.2 | 9.3% | 1.0x | -- |
| Act | 2025-Q4 | 74.3 | 26.6 | 25.9 | 18.9 | 23.9 | 19.3 | -4.6 | 837.5 | 65.2 | 31.4 | 28.6% | 1.9x | -- |
Valuation & Metrics
Market Stats
Price$28.63
Market Cap$900M
Enterprise Value$-9M
P/S Ratio5.7x
P/FCF19.9x
EV/FCF-0.2x
FCF Margin (TTM)28.7%
FCF Yield5.0%
Dividend Yield (TTM)3.1%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$157.0M
Net Income$30.1M
Free Cash Flow$45.1M
Revenue Growth (YoY)+0.0%
EBITDA Margin26.5%
Net Margin19.2%
FCF Margin28.7%
CapEx % of Revenue4.7%
SBC % of Revenue0.4%
ROIC18.9%
WC Change % Rev-7.3%
Interest Coverage1.4x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.1M
Days to Cover2.1
Change (vs Prior)-4.4%
Need at least 2 settlement dates for chart
Employees
Headcount844
Revenue / Employee$186,030
Gross Profit / Employee$151,499
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
13.5%(+3.7% YoY)
112 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
10.7%(+1.4% YoY)
11 filers
Vanguard, iShares, SPDR
Market makers
0.1%(-0.0% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $43.0M | $20.61 | −$878K | −$5.5M | -0.2% | $5.69T |
| DIMENSIONAL FUND ADVISORS LPPassive | $15.0M | $19.37 | +$407K | +$2.0M | -0.4% | $480.92B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $13.9M | $26.50 | +$13.8M | +$13.9M | — | $4.04T |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $13.1M | $17.64 | −$177K | −$940K | -0.2% | $113.45B |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $11.9M | $21.56 | +$5.0M | +$4.5M | -0.1% | $64.61B |
| AMERICAN CENTURY COMPANIES INC | $8.7M | $22.32 | +$1.4M | +$3.6M | +0.7% | $193.48B |
| LPL Financial LLC | $8.7M | $21.04 | +$150K | +$90K | -0.2% | $372.65B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $8.1M | $19.33 | +$360K | −$331K | +2.3% | $1.61T |
| STATE STREET CORPPassive | $7.8M | $19.50 | +$257K | +$1.0M | -0.2% | $2.89T |
| ROYCE & ASSOCIATES LP | $7.1M | $22.06 | −$173K | −$2.6M | -0.9% | $10.09B |
| Siena Capital Partners GP, LLC | $4.9M | $17.57 | +$0 | +$0 | -0.4% | $385M |
| ALLIANCEBERNSTEIN L.P. | $4.3M | $26.37 | +$4.0M | +$4.0M | -0.3% | $307.70B |
| Heartland Bank & Trust Co | $4.3M | $26.28 | +$3.8M | +$4.0M | +0.1% | $442M |
| NORTHERN TRUST CORPPassive | $4.0M | $21.26 | +$474K | +$595K | -0.2% | $755.34B |
| Allspring Global Investments Holdings, LLC | $3.3M | $26.28 | +$3.3M | +$3.3M | -0.7% | $59.61B |
| Bank of New York Mellon Corp | $3.3M | $18.80 | −$38K | −$449K | -0.2% | $543.21B |
| LSV ASSET MANAGEMENT | $3.2M | $19.93 | −$1.3M | −$2.9M | +0.0% | $46.40B |
| ACADIAN ASSET MANAGEMENT LLC | $3.2M | $18.56 | +$0 | +$224K | -0.5% | $70.48B |
| GOLDMAN SACHS GROUP INC | $2.9M | $22.60 | +$930K | +$1.7M | -0.2% | $760.93B |
| MORGAN STANLEY | $2.8M | $20.19 | −$80K | +$904K | -0.3% | $1.65T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-0.13%
avg per quarter
Holders (ex-self)
-0.13%
excl. this stock
Buyers (this Q)
-0.04%
62 buyers · $0.05B in
Sellers (this Q)
-0.83%
37 sellers · $0.01B out
alpha coverage: 92% of $ has a lifetime-alpha record
Holder behavior (holder profile)source: holder
On big dips (−10%+)
-4.1%
how holders react when this stock falls
On quiet Qs
-1.5%
−10% to +10% baseline
On rallies (+10%+)
-10.0%
how they react when this stock rises
Holders' portfolio flow this Q
+4.1%
inflows — adds are organic
Sellers' portfolio flow this Q
+1.5%
Sellers grew AUM elsewhere — opinionated cut of this stock.
Biggest decreases this quarter
LSV ASSET MANAGEMENT−$1.3Mα+0.0BlackRock, Inc.−$878Kα-0.2BANC FUNDS CO LLCexited−$476KPANAGORA ASSET MANAGEMENT INCexited−$450KJOHNSON INVESTMENT COUNSEL INC−$448Kα-0.2MANUFACTURERS LIFE INSURANCE COMPANY, THE−$177Kα-0.2ROYCE & ASSOCIATES LP−$173Kα-0.9CHARLES SCHWAB INVESTMENT MANAGEMENT INC−$86Kα+0.7MORGAN STANLEY−$80Kα-0.3CAPTRUST FINANCIAL ADVISORS−$38Kα-0.2
New buyers this quarter
Top-5 holders · 44.7%
BlackRock, Inc.--
DIMENSIONAL FUND ADVISORS LP--
VANGUARD CAPITAL MANAGEMENT LLC--
MANUFACTURERS LIFE INSURANCE COMPANY, THE--
ADAGE CAPITAL PARTNERS GP, L.L.C.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
BANC FUNDS CO LLC—MANUFACTURERS LIFE INSURANCE COMPANY, THE491KROYCE & ASSOCIATES LP264KADAGE CAPITAL PARTNERS GP, L.L.C.446KAMERICAN CENTURY COMPANIES INC326KLPL Financial LLC324KCetera Investment Advisers—Cetera Advisors LLC—BASSWOOD CAPITAL MANAGEMENT, L.L.C.—LSV ASSET MANAGEMENT120K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (1 analysts)$32.001180.0%
Last Year (4 analysts)$29.13170.0%
Current Price$28.63
Analyst Ratings
3
2
1
Buy: 3Hold: 2Sell: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$105K
1 txn · 1 insider · 4,000 sh
Sells ($, 12mo)
$530K
2 txns · 2 insiders · 20,000 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$577K
3 txns · 1 insider · 20,000 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-04-28 | SELL | DRAKE FRED L | director, 10 percent owner, officer: Executive Chairman | 15,742 | $28.93 | $455K | $1.33M |
| 2026-03-16 | SELL | BUSCH PATRICK F | director | 15,000 | $26.48 | $397K | $4.62M |
| 2026-03-16 | SELL | HORVATH LAWRENCE J | officer: EVP & Chief Lending Officer | 5,000 | $26.60 | $133K | $1.56M |
| 2026-03-10 | BUY | BURWELL ERIC E | director | 4,000 | $26.24 | $105K | $940K |
| 2026-02-20 | SELL | DRAKE FRED L | director, 10 percent owner, officer: Executive Chairman | 2,258 | $28.60 | $65K | $1.76M |
| 2026-02-18 | SELL | DRAKE FRED L | director, 10 percent owner, officer: Executive Chairman | 2,000 | $28.74 | $57K | $1.83M |
Order Flow (FINRA, ~3w lag)
25.4%retail-31.0pp
15.0%dark+9.3pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
HBT Financial, Inc.: Routine Regulatory Metadata Reflecting Standard Institutional Compliance
Overall Risk
2/10
Fraud
1/10
Dilution
1/10
Insolvency
1/10
Earnings Overstated
1/10
Hidden Liabilities
1/10
Legal
1/10
Audit Warnings
1/10
Hidden Upside
1/10
Contextually Acceptable
10/10