Raymond James Upgrades HBT Financial (HBT) to Outperform

Raymond James analyst David Tamayo upgraded HBT Financial (NASDAQ: HBT) from Market Perform to Outperform with a price target of $23.00.

The analyst comments "We are upgrading shares of HBT to Outperform and establishing a $23 price target following meetings with management that left us more bullish on shares which centered around its disciplined credit culture and prospects for incremental M&A activity. Specifically, we believe its disciplined underwriting culture should drive below-peer credit costs through a potential downturn. Further, while NIM/EPS risk exists if rates rapidly decline, its strong core deposit base and fixed-rate loan concentration position it well for modest rate hikes or a higher-for- longer scenario, while we expect strong TBV growth given its above-peer profitability profile with upside from AOCI recapture not in our model. In short, due to its defensive credit posture along with strong capital and profitability, we believe that HBT shares should trade at solid premium valuation multiples to peers."

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 $19.15 yesterday.

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