HBT Financial price target lowered to $26 from $27 at Piper Sandler

Piper Sandler analyst Nathan Race lowered the firm’s price target on HBT Financial (HBT) to $26 from $27 and keeps a Neutral rating on the shares. The firm notes the company’s results in Q4 exceeded expectations driven by a more resilient net interest margin, a pick-up in growth on both balance sheet sides, and continued strong cost controls. Credit quality remained solid and is expected to remain a non-issue. Piper also believes HBT is advantageously positioned in the current rate environment/outlook to generate greater net interest income growth than previously anticipated. The firm stays on the sidelines until more consistent and stronger loan growth emerges and/or HBT is able to leverage excess TCE/improve EPS growth via additional likely well-received M&A.