NASDAQ$HBT
Hbt Financial Inc/De · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported net income of $18.4 million and EPS of $0.58, driven by strong profitability and balance sheet management.
HBT Financial, Inc. reported a net income of $18.4 million, or $0.58 diluted earnings per share, for the fourth quarter of 2023. The company demonstrated strong profitability with an adjusted ROAA of 1.53% and an adjusted ROATCE of 19.81%. Deposit growth, excluding brokered deposits, was 4.2% for the quarter, and loan growth remained solid at 1.8%.
- Net income was $18.4 million, or $0.58 per diluted share, with a return on average assets of 1.46%.
- Adjusted net income was $19.3 million, or $0.60 per diluted share, with an adjusted ROAA of 1.53%.
- Asset quality remained strong, with nonperforming assets to total assets at 0.17%.
- The Board of Directors declared a quarterly cash dividend of $0.19 per share, an increase of $0.02 from the previous quarter.
Headline financials
Revenue & EPS history
Hbt Financial · Revenue · Quarterly
$56.3M
Revenue by segment
Hbt Financial · $2.28B total across 8 segments · Q3 2020
- CRE - Non Owner Occupied$532M—23.4%
- Commercial & Industrial$389M—17.1%
- 1-4 Family Residential$308M—13.5%
- Construction & Land Dev$266M—11.7%
- Agricultural & Farmland$236M—10.3%
- CRE - Owner Occupied$225M—9.9%
- Multi-Family$199M—8.7%
- Municipal, Consumer & Other$123M—5.4%
Forward guidance
HBT Financial anticipates a moderation in the pace of net interest margin decreases in the first quarter of 2024. Recent drop in interest rates increased accumulated other comprehensive income (loss) by $21.3 million, driving a 9.3% increase in tangible book value per share. Capital metrics have increased, supporting continued organic growth or future acquisitions.
Tailwinds
- Believes that the pace of net interest margin decreases will moderate in the first quarter of 2024.
- Accumulated other comprehensive income (loss) increased by $21.3 million due to the recent drop in interest rates.
- Tangible book value per share increased by 9.3% due to the increase in accumulated other comprehensive income and strong earnings retention.
- All capital metrics increased and can support continued organic growth or future acquisitions.
- Strong financial performance and balance sheet enable an increase in the quarterly dividend by $0.02 per share.
Headwinds
- Net interest income decreased by 2.5% from the third quarter of 2023 due to an increase in funding costs.
- Net interest margin decreased from 4.07% to 3.93% due to higher funding costs.
- Noninterest income decreased by 3.0% from the third quarter of 2023 due to a negative mortgage servicing rights fair value adjustment.
- Recognized $3.4 million of net losses on the sale of $66.8 million of municipal securities in January 2024.
- Cost of funds increased to 1.26% for the fourth quarter of 2023, compared to 0.96% for the third quarter of 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.1%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+1.5%
Avg return
30 days after
50%
16 / 32 earnings
Positive
+6.1%
Q2 2024
Best reaction
-5.9%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -0.4% | +1.7% | |
| Q4 2025 | -2.5% | -2.1% | +1.1% | |
| Q3 2025 | +3.8% | +6.0% | -2.7% | |
| Q2 2025 | -1.2% | -2.0% | -0.4% | |
| Q1 2025 | +1.5% | +6.4% | +9.7% | |
| Q4 2024 | +1.7% | +9.7% | +11.6% | |
| Q3 2024 | -3.6% | -6.5% | +3.7% | |
| Q2 2024 | +6.1% | +5.1% | -7.0% | |
| Q1 2024 | +2.3% | +2.0% | +5.9% | |
| Q4 2023 | -1.6% | +0.4% | -5.6% | |
| Q3 2023 | +1.4% | +0.3% | +8.5% | |
| Q2 2023 | -1.2% | -1.0% | -6.9% | |
| Q1 2023 | -2.9% | -1.6% | +1.3% | |
| Q4 2022 | +5.5% | -9.2% | -16.0% | |
| Q3 2022 | +3.1% | +10.9% | +10.2% | |
| Q2 2022 | +2.5% | +7.9% | +6.4% | |
| Q1 2022 | -1.7% | -4.6% | -6.3% | |
| Q4 2021 | +2.7% | +4.9% | +7.3% | |
| Q3 2021 | +0.1% | +1.7% | +7.4% | |
| Q2 2021 | -1.8% | -4.0% | -6.3% | |
| Q1 2021 | +3.3% | +4.8% | +2.1% | |
| Q4 2020 | +0.3% | -1.5% | +8.5% | |
| Q3 2020 | -1.5% | -4.4% | +8.8% | |
| Q2 2020 | +1.6% | -1.7% | -0.7% | |
| Q1 2019 | -4.5% | -0.8% | +19.6% | |
| Q1 2020 | -3.4% | -6.2% | +7.4% | |
| Q4 2018 | -5.9% | -13.7% | -5.0% | |
| Q4 2017 | -5.9% | -13.7% | -5.0% | |
| Q2 2019 | -5.9% | -13.7% | -5.0% | |
| Q4 2019 | +1.6% | +2.1% | -18.7% | |
| Q3 2018 | -1.0% | +0.0% | +3.2% | |
| Q3 2019 | +4.3% | +4.7% | +8.5% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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