DA Davidson Downgrades HBT Financial (HBT) to Neutral

DA Davidson analyst Jeff Rulis downgraded HBT Financial (NASDAQ: HBT) from Buy to Neutral with a price target of $24.00 (from $26.00).

The analyst comments "We are downgrading shares of HBT to NEUTRAL, along with a target revision, predominantly based on the bank's less favorable asset sensitive balance sheet position. We have lowered our earnings outlook for HBT to reflect added NIM pressure tied to the Fed's more aggressive rate cut path. Additionally, credit and deposit strengths that have led to HBT's premium valuation in the past two years are likely to be overlooked or minimized should the market's attention turn to "risk-on" credit names and/or banks with a greater ability to lower deposit costs (ironically those banks that held higher deposit betas in the rate hike cycle), in our view."

For an analyst ratings summary and ratings history on HBT Financial click here. For more ratings news on HBT Financial click here.

Shares of HBT Financial closed at $22.98 yesterday.

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