HBT Financial (HBT)


Market Price (11/6/2026): $37.15 | Market Cap: $1.4 BilSector: Financials | Industry: Regional Banks

HBT Financial (HBT)


Market Price (11/6/2026): $37.15
Market Cap: $1.4 Bil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.7%, FCF Yield is 5.6%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%

Low stock price volatility
Vol 12M is 24%

Trading close to highs
Dist 52W High is -1.8%, Dist 3Y High is -1.8%

Key risks
HBT key risks include [1] heightened credit risk from its concentration in small to mid-sized business clients and [2] execution risks tied to its growth-through-acquisitions strategy, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.7%, FCF Yield is 5.6%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%
3 Low stock price volatility
Vol 12M is 24%
4 Trading close to highs
Dist 52W High is -1.8%, Dist 3Y High is -1.8%
5 Key risks
HBT key risks include [1] heightened credit risk from its concentration in small to mid-sized business clients and [2] execution risks tied to its growth-through-acquisitions strategy, Show more.

HBT in ETFs

Weight = HBT's share of each fund

VTI0.00%
IWM0.02%
KRE0.17%
IWN0.04%
AVUV0.02%
DFAS0.02%
VTWO0.02%
SCHA0.01%
+3 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

HBT Financial (HBT) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. HBT Financial reported strong fiscal Q3 2026 earnings, exceeding analyst expectations. The company announced diluted earnings per share (EPS) of $0.86, surpassing the consensus estimate of $0.78 by $0.08. This represented a 13% increase from the prior quarter and a 37% year-over-year increase. Additionally, HBT's net interest margin (NIM) improved by 3 basis points sequentially to 4.35% for the quarter ended September 30, 2026.

2. The approval of the Tri-County Financial Group acquisition bolstered investor confidence regarding future growth. HBT Financial announced an agreement to acquire Tri-County Financial Group on August 10, 2026. Shareholders of Tri-County Financial Group subsequently approved the merger on October 29, 2026. This strategic transaction is expected to enhance HBT's scale and branch density, contributing to its operational resilience and pushing it towards regional bank status. HBT anticipates the transaction will close early in fiscal Q1 2027.

Show more
Updated on 11/1/2026

HBT Financial (HBT) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. HBT Financial reported strong fiscal Q3 2026 earnings, exceeding analyst expectations. The company announced diluted earnings per share (EPS) of $0.86, surpassing the consensus estimate of $0.78 by $0.08. This represented a 13% increase from the prior quarter and a 37% year-over-year increase. Additionally, HBT's net interest margin (NIM) improved by 3 basis points sequentially to 4.35% for the quarter ended September 30, 2026.

2. The approval of the Tri-County Financial Group acquisition bolstered investor confidence regarding future growth. HBT Financial announced an agreement to acquire Tri-County Financial Group on August 10, 2026. Shareholders of Tri-County Financial Group subsequently approved the merger on October 29, 2026. This strategic transaction is expected to enhance HBT's scale and branch density, contributing to its operational resilience and pushing it towards regional bank status. HBT anticipates the transaction will close early in fiscal Q1 2027.

3. Analysts reacted positively to the company's performance and strategic moves with upgraded ratings and increased price targets. Following the strong fiscal Q3 results and the merger announcement, several research firms adjusted their outlook on HBT Financial. Keefe, Bruyette & Woods raised their price target from $41.00 to $43.00, maintaining an "outperform" rating. Weiss Ratings upgraded HBT Financial from a "buy (b+)" to a "buy (a-)" rating on October 8, 2026. Zacks Research also upgraded the stock from a "hold" to a "strong-buy" rating on September 28, 2026. The average analyst price target for HBT increased from $40.2 to $40.6, implying approximately 12% potential upside from the October 23, 2026, closing price.

4. A generally favorable macroeconomic environment for regional banks, characterized by net interest margin expansion, provided a supportive backdrop. The broader regional banking sector experienced a positive operating environment in the period leading up to and including HBT's performance, driven by net interest margin (NIM) expansion and relatively stable credit costs. This trend, resulting from a positively sloped yield curve and Federal Reserve rate cuts, contributed to earnings growth across the sector. While the sector's performance in the short term has been mixed, this broader positive dynamic likely provided a tailwind for HBT Financial's stock movement.

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Stock Movement Drivers

Fundamental Drivers

The 4.3% change in HBT stock from 7/31/2026 to 11/5/2026 was primarily driven by a 8.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)731202611052026Change
Stock Price ($)35.5937.124.3%
Change Contribution By: 
Total Revenues ($ Mil)2452678.9%
Net Income Margin (%)28.2%29.2%3.2%
P/E Multiple17.117.41.7%
Shares Outstanding (Mil)3336-8.8%
Cumulative Contribution4.3%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
HBT4.3% 
Market (SPY)-1.9%24.7%
Sector (XLF)1.0%57.4%

Fundamental Drivers

The 35.8% change in HBT stock from 4/30/2026 to 11/5/2026 was primarily driven by a 55.6% change in the company's P/E Multiple.
(LTM values as of)430202611052026Change
Stock Price ($)27.3437.1235.8%
Change Contribution By: 
Total Revenues ($ Mil)23626713.1%
Net Income Margin (%)32.7%29.2%-10.7%
P/E Multiple11.217.455.6%
Shares Outstanding (Mil)3136-13.6%
Cumulative Contribution35.8%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
HBT35.8% 
Market (SPY)2.3%9.6%
Sector (XLF)10.7%50.4%

Fundamental Drivers

The 57.1% change in HBT stock from 10/31/2025 to 11/5/2026 was primarily driven by a 82.9% change in the company's P/E Multiple.
(LTM values as of)1031202511052026Change
Stock Price ($)23.6337.1257.1%
Change Contribution By: 
Total Revenues ($ Mil)23426713.9%
Net Income Margin (%)33.5%29.2%-12.9%
P/E Multiple9.517.482.9%
Shares Outstanding (Mil)3136-13.5%
Cumulative Contribution57.1%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
HBT57.1% 
Market (SPY)8.4%15.3%
Sector (XLF)11.1%46.6%

Fundamental Drivers

The 129.0% change in HBT stock from 10/31/2023 to 11/5/2026 was primarily driven by a 89.1% change in the company's P/E Multiple.
(LTM values as of)1031202311052026Change
Stock Price ($)16.2137.12129.0%
Change Contribution By: 
Total Revenues ($ Mil)20826728.5%
Net Income Margin (%)27.2%29.2%7.2%
P/E Multiple9.217.489.1%
Shares Outstanding (Mil)3236-12.1%
Cumulative Contribution129.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
HBT129.0% 
Market (SPY)81.3%36.1%
Sector (XLF)85.5%57.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HBT Return28%8%12%8%22%47%199%
Peers Return29%1%-1%21%5%16%89%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
HBT Win Rate67%50%58%33%67%73% 
Peers Win Rate68%47%45%52%50%55% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
HBT Max Drawdown-22%-17%-27%-16%-19%-12% 
Peers Max Drawdown-19%-25%-36%-15%-26%-16% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: WTFC, ONB, CBSH, ASB, BUSE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)

How Low Can It Go

EventHBTS&P 500
2025 US Tariff Shock
  % Loss-17.4%-18.8%
  % Gain to Breakeven21.0%23.1%
  Time to Breakeven80 days79 days
2023 SVB Regional Banking Crisis
  % Loss-23.0%-6.7%
  % Gain to Breakeven29.9%7.1%
  Time to Breakeven231 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-11.7%-24.5%
  % Gain to Breakeven13.2%32.4%
  Time to Breakeven36 days427 days
2020 COVID-19 Crash
  % Loss-49.5%-33.7%
  % Gain to Breakeven98.1%50.9%
  Time to Breakeven347 days140 days

Compare to WTFC, ONB, CBSH, ASB, BUSE

In The Past

HBT Financial's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventHBTS&P 500
2023 SVB Regional Banking Crisis
  % Loss-23.0%-6.7%
  % Gain to Breakeven29.9%7.1%
  Time to Breakeven231 days31 days
2020 COVID-19 Crash
  % Loss-49.5%-33.7%
  % Gain to Breakeven98.1%50.9%
  Time to Breakeven347 days140 days

Compare to WTFC, ONB, CBSH, ASB, BUSE

In The Past

HBT Financial's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About HBT Financial (HBT)

HBT Financial, Inc. (HBT) is a bank holding company operating primarily through its subsidiary, Heartland Bank and Trust Company. The company provides a comprehensive suite of traditional banking products and services. Its core business focuses on serving individuals, businesses, and municipal entities within its operating regions, facilitating both deposit-taking and a broad range of lending activities.

The company's offerings include a variety of deposit accounts such as checking, savings, money market, and certificates of deposit, as well as specialized accounts like health savings and individual retirement accounts. On the lending side, HBT Financial provides owner and non-owner occupied commercial real estate loans, construction and land development financing, commercial and industrial loans, agricultural and farmland loans, one-to-four family residential mortgages, and various municipal and consumer loans. Beyond conventional banking, HBT also offers wealth management services, including financial planning, investment management, and corporate retirement plan consulting.

HBT Financial further differentiates its services with offerings like farmland management, farmland sales, and crop insurance, alongside treasury management solutions. The company maintains a significant physical presence with 57 branch locations across Central and Northeastern Illinois and an additional four branches in Eastern Iowa. Complementing its branch network, HBT provides robust digital banking services, including online and mobile banking, to ensure convenient access and financial management capabilities for its diverse customer base.

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  • A full-service regional bank, much like a smaller-scale Wells Fargo, but focused on Illinois and Iowa.
  • A comprehensive community and regional bank, similar to a local U.S. Bancorp, offering everything from personal banking to wealth management and specialized agricultural services.
  • Like a regional version of PNC Financial Services, providing a complete range of consumer, commercial, and wealth management solutions across its Illinois and Iowa footprint.

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  • Deposit Accounts: Offers various deposit accounts including checking, savings, money market, certificates of deposit, health savings accounts, and individual retirement accounts.
  • Lending Services: Provides a diverse range of loans such as commercial real estate, commercial and industrial, agricultural, one-to-four family residential, municipal, and consumer loans.
  • Wealth Management Services: Delivers financial planning, investment management, trustee and custodial services, corporate retirement plan consulting, and retail brokerage services.
  • Agricultural Services: Offers specialized services including farmland management, farmland sales, and crop insurance.
  • Treasury Management Services: Provides solutions to businesses for managing cash flow and optimizing financial operations.
  • Residential Mortgage Origination and Sale: Originates and sells residential mortgage loans to individuals.
  • Digital Banking Services: Provides online and mobile banking, digital payment solutions, and personal financial management tools.

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HBT Financial, Inc. primarily serves a diverse range of customers rather than a few major corporate clients. Based on its operations as a bank holding company, its major customer categories are:

  1. Individuals: This category includes consumers who utilize retail banking products and services such as deposit accounts (noninterest-bearing demand deposits, interest-bearing transaction accounts, money market accounts, savings accounts, certificates of deposits, health savings accounts, individual retirement accounts), one-to-four family residential loans, consumer loans, residential mortgage loans, and wealth management services (financial planning, trustee and custodial, investment management, retail brokerage).
  2. Businesses: HBT Financial serves various types of businesses, including those requiring owner and non-owner occupied commercial real estate loans, construction and land development and multi-family loans, commercial and industrial loans, and agricultural and farmland loans. It also provides treasury management services and corporate retirement plan consulting and administration.
  3. Municipal Entities: The company offers banking products and services, including municipal loans, to local government bodies and other municipal entities.

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J. Lance Carter, President and Chief Executive Officer

J. Lance Carter is the President and Chief Executive Officer of HBT Financial and Heartland Bank. He joined the company in 2001, serving as Heartland Bank's Chief Credit Officer from March 2010 to December 2018, and was named Chief Operating Officer of Heartland Bank in June 2015. His responsibilities encompass oversight of loan approval, loan operations, special assets, finance, risk management, and retail. Prior to his current role, he was President and Chief Operating Officer of Heartland BancCorp from 2019 to 2023, before the company changed its name to HBT Financial, Inc. Mr. Carter holds a BS in Finance and an MBA from the University of Illinois and completed the Graduate School of Banking at University of Wisconsin—Madison.

Peter R. Chapman, Executive Vice President and Chief Financial Officer

Peter R. Chapman serves as the Executive Vice President and Chief Financial Officer of HBT Financial and Heartland Bank, having joined in 2022. Before his tenure at HBT Financial, Mr. Chapman was the Executive Vice President and Chief Financial Officer of Great Western Bancorp, Inc., a regional bank holding company, from November 2012 until its merger with First Interstate BancSystem, Inc. in February 2022. In this role, he also oversaw IT, Operations, Product Management, Credit Card, and Mortgage businesses. Earlier in his career, he held several senior operational and financial positions at National Australia Bank and was a Senior Manager in the financial services practice of Ernst & Young in Australia and New York. Mr. Chapman is a Chartered Accountant and earned a Bachelor of Accounting degree from Royal Melbourne Institute of Technology.

Fred L. Drake, Executive Chairman

Fred L. Drake is the Executive Chairman of HBT Financial. He has also served as Chairman and CEO of the company and Chairman of Heartland Bank and Lincoln Bank.

Lawrence J. Horvath, Executive Vice President and Chief Lending Officer

Lawrence J. Horvath is the Executive Vice President and Chief Lending Officer of HBT Financial and Heartland Bank. He joined Heartland Bank in 2010 and possesses 37 years of banking experience, including commercial lending, credit review, mergers and acquisitions, and market leadership. He has also served as President and CEO of a community bank in Bloomington, Illinois.

Diane H. Lanier, Executive Vice President and Chief Retail Officer

Diane H. Lanier holds the position of Executive Vice President and Chief Retail Officer for HBT Financial and Heartland Bank.

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The key risks to HBT Financial, Inc. (HBT) are primarily concentrated in its lending activities, sensitivity to interest rate fluctuations, and the highly regulated nature of the banking industry.

  1. Credit Risk and Regional Economic Downturn: HBT Financial is significantly exposed to credit risk due to its extensive loan portfolio, which includes substantial commercial real estate (CRE), agricultural, and residential loans. Given its geographic concentration in Central and Northeastern Illinois and Eastern Iowa, the company's profitability and asset quality are highly susceptible to adverse economic conditions in these specific regions. A downturn in local economies, declines in agricultural commodity prices, or a weakening regional real estate market could lead to increased loan defaults, higher loan loss provisions, and reduced profitability. The recent acquisition of CNB Bank Shares, Inc., for example, is expected to increase the concentration of farm loans in HBT's portfolio, further tying its performance to the agricultural sector.

  2. Interest Rate Risk: As a bank, HBT Financial's financial performance is highly sensitive to changes in interest rates. Fluctuations in interest rates can significantly impact the company's net interest income, which is the difference between interest earned on assets (like loans) and interest paid on liabilities (like deposits). Rapid or unexpected shifts in monetary policy by the Federal Reserve, or changes in market rates, can cause the cost of funding (deposits) to reprice faster or to a greater extent than the yields on its interest-earning assets, thereby compressing net interest margins and affecting the value of its financial instruments.

  3. Regulatory and Compliance Risk: The banking industry is subject to extensive and evolving federal and state regulations, which inherently expose HBT Financial to significant regulatory and compliance risk. Changes in banking laws, regulations, or supervisory policies could increase the company's operating and compliance costs, restrict its business activities, or necessitate higher capital requirements. Failure to comply with these complex regulations could result in penalties, reputational damage, and limitations on its operations.

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The primary clear emerging threat to HBT Financial is the accelerating rise of digital-first challenger banks (neobanks) and specialized financial technology (fintech) platforms. These competitors offer significantly lower operating costs, highly convenient user experiences via mobile and online channels, and can deliver competitive rates and services across various banking products (deposits, payments, consumer loans, business loans, wealth management, and mortgages) without the overhead of physical branch networks. This trend directly challenges HBT's traditional branch-based model by making physical locations less relevant for an increasing segment of the population, potentially eroding HBT's customer base and net interest margins.

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HBT Financial, Inc. (HBT) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Strategic Acquisitions and Integration: The recent completion of the merger with CNB Bank Shares, Inc. on March 2, 2026, is a significant driver. CNB Bank Shares, Inc. held $1.8 billion in assets, $1.3 billion in loans, and $1.5 billion in deposits as of December 31, 2025, which is anticipated to materially expand HBT Financial's balance sheet and revenue base.
  2. Organic Loan Growth: HBT Financial has demonstrated consistent loan growth, with total loans increasing by $56.2 million (6.6% annualized) in the fourth quarter of 2025 and reaching $3.40 billion in the third quarter of 2025. This focus on expanding its loan portfolio across various segments, including commercial real estate, commercial and industrial, and residential, is a fundamental driver of net interest income.
  3. Expansion of Branch Network and Market Reach: The company has expanded its operational footprint beyond its traditional Central and Northeastern Illinois and Eastern Iowa markets to include suburban St. Louis, now operating through 83 full-service branches. This geographical expansion, partly fueled by acquisitions, allows HBT Financial to reach new customers and grow its deposit and loan base, thereby increasing revenue.
  4. Growth in Wealth Management Services: HBT Financial offers a comprehensive suite of wealth management services, including financial planning, investment management, and corporate retirement plan consulting. The increase in wealth management customer reciprocal deposits, as noted in the fourth quarter of 2024, indicates a growing contribution from this segment to the company's funding and non-interest income.

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Share Repurchases

  • HBT Financial's Board of Directors authorized a new stock repurchase program on December 18, 2025, allowing for the repurchase of up to $30 million of its common stock, effective January 1, 2026, until January 1, 2027.
  • In 2024, HBT Financial repurchased 232,803 shares of its common stock at a weighted average price of $18.89.
  • During the third quarter of 2025, the company repurchased 39,631 shares of its common stock at a weighted average price of $25.36.

Share Issuance

  • As part of the acquisition of CNB Bank Shares, Inc., which closed on March 1, 2026, HBT Financial issued 5.5 million shares of its common stock.
  • On March 11, 2026, HBT Financial issued $85 million in aggregate principal amount of 5.75% Fixed-to-Floating Rate Subordinated Notes due 2036 in a private placement, intended to qualify as Tier 2 regulatory capital.

Outbound Investments

  • HBT Financial completed the acquisition of Town and Country Financial Corporation in 2023, which added $937.2 million of assets.
  • The company closed the acquisition of CNB Bank Shares, Inc. on March 1, 2026, for a total consideration of 5.5 million HBT shares plus $34 million in cash, valued at approximately $182 million, adding $1.8 billion in assets.
  • HBT Financial is focused on disciplined growth through strategic acquisitions to enhance market presence and improve operational efficiencies.

Capital Expenditures

  • Over the last 12 months (as of March 13, 2026), HBT Financial reported capital expenditures of -$10.31 million.
  • The company is committed to investing in technological improvements.

Peer Outperformance in Regional Banks

HBT has outperformed 91% of its 262 Regional Banks peers over 5Y. Regional Banks ranks 8th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that HBT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
91%
of 281 industry peers · 58.1% return
3Y
74%
of 273 industry peers · 111.8% return
5Y
91%
of 262 industry peers · 129.3% return
No Regional Banks peer with a comparable growth profile has beaten HBT by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is HBT's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 33.1%75.7%125.1% SPNT 168% · RGA 162% · RNR 141%
Investment Banking & Brokerage 13 -3.9%89.1%93.1% IBKR 305% · SNEX 152% · GS 141%
Diversified Banks 12 30.0%140.4%90.3% CM 144% · RY 129% · JPM 127%
Life & Health Insurance 20 14.3%52.3%75.4% JXN 514% · UNM 224% · FG 188%
Property & Casualty Insurance 42 18.9%76.8%66.8% TRV 178% · PGR 172% · ACGL 168%
Multi-Sector Holdings 3 10.1%53.8%59.4% BRK-B 99% · VOYA 59% · JEF 37%
Multi-line Insurance 9 9.5%71.4%59.4% AIZ 105% · GNW 104% · L 98%
Regional Banks ← 263 30.0%87.5%46.7% CBC 268% · FCNCA 176% · NIC 136%
Insurance Brokers 15 5.5%13.4%33.4% LIFE 287% · ARX 89% · WTW 56%
Financial Exchanges & Data 15 20.6%37.2%27.9% CBOE 183% · VIRT 131% · CME 71%
Asset Management & Custody Banks 83 -5.9%22.8%12.3% VCTR 210% · AAMI 207% · WT 205%
Consumer Finance 30 2.9%81.0%8.1% ENVA 330% · FCFS 130% · ECPG 111%
Commercial & Residential Mortgage Finance 14 -46.5%36.8%2.5% FNMA 327% · FMCC 293% · ACT 158%
Diversified Financial Services 4 -1.6%20.1%-1.1% FRHC 153% · EQH 71%
Specialized Finance 3 15.8%31.5%-19.7% HASI -20% · CACC -24%
Transaction & Payment Processing Services 17 19.3%9.1%-29.4% V 103% · MA 94% · CPAY 83%
Mortgage REITs 35 -18.0%-6.1%-37.2% RITM 36% · DX 17% · AGNC 10%
Diversified Capital Markets 20 -47.1%-8.5%-70.1% LPLA 83% · TW 38% · RIOT -53%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

HBTWTFCONBCBSHASBBUSEMedian
NameHBT Fina.Wintrust.Old Nati.Commerce.Associat.First Bu. 
Mkt Price37.15151.5425.1155.2030.5428.6733.84
Mkt Cap1.410.29.58.05.72.46.8
Rev LTM2672,9242,8311,9001,6817901,790
Op Inc LTM-------
FCF LTM761,7109801,213852209916
FCF 3Y Avg761,073711734601172656
CFO LTM871,7921,0251,262890228957
CFO 3Y Avg831,140747786644184696

Growth & Margins

HBTWTFCONBCBSHASBBUSEMedian
NameHBT Fina.Wintrust.Old Nati.Commerce.Associat.First Bu. 
Rev Chg LTM15.7%10.3%21.8%10.8%45.8%41.4%18.8%
Rev Chg 3Y Avg8.8%9.1%14.4%6.4%11.3%21.1%10.2%
Rev Chg Q37.5%8.6%1.1%14.7%20.1%-0.7%11.6%
QoQ Delta Rev Chg LTM8.9%2.1%0.3%3.6%4.8%-0.2%2.8%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM32.6%61.3%36.2%66.4%53.0%28.8%44.6%
CFO/Rev 3Y Avg34.9%41.6%31.2%44.1%48.5%31.3%38.2%
FCF/Rev LTM28.4%58.5%34.6%63.9%50.7%26.4%42.7%
FCF/Rev 3Y Avg32.0%39.0%29.6%41.1%45.0%29.4%35.5%

Valuation

HBTWTFCONBCBSHASBBUSEMedian
NameHBT Fina.Wintrust.Old Nati.Commerce.Associat.First Bu. 
Mkt Cap1.410.29.58.05.72.46.8
P/S5.13.53.44.23.43.13.4
P/Op Inc-------
P/EBIT-------
P/E17.411.19.913.610.810.510.9
P/CFO15.65.79.36.36.410.67.8
Total Yield7.9%10.8%12.6%9.3%12.2%14.0%11.5%
Dividend Yield2.1%1.7%2.5%2.0%3.0%4.5%2.3%
FCF Yield 3Y Avg9.3%12.0%8.7%9.1%13.7%8.7%9.2%
D/E0.10.40.70.00.80.10.3
Net D/E-0.5-0.70.5-0.7-0.6-1.1-0.6

Returns

HBTWTFCONBCBSHASBBUSEMedian
NameHBT Fina.Wintrust.Old Nati.Commerce.Associat.First Bu. 
1M Rtn2.4%4.9%0.9%0.8%5.7%-1.6%1.6%
3M Rtn3.2%-4.4%-5.3%-6.2%-1.2%-7.0%-4.9%
6M Rtn32.9%1.3%5.1%6.2%9.0%9.7%7.6%
12M Rtn58.2%18.9%24.4%10.1%24.5%29.1%24.4%
3Y Rtn112.0%98.1%89.0%39.6%96.3%55.6%92.6%
1M Excs Rtn6.0%8.2%4.3%3.9%8.9%1.3%5.1%
3M Excs Rtn3.8%-3.3%-4.0%-5.2%-0.7%-5.8%-3.7%
6M Excs Rtn28.1%-3.5%0.3%1.5%4.3%4.9%2.9%
12M Excs Rtn48.0%7.3%12.2%-3.0%12.7%17.8%12.4%
3Y Excs Rtn45.8%30.7%15.6%-36.4%27.9%-20.3%21.8%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single segment236222226180158
Total236222226180158


Price Behavior

Price Behavior
Market Price$37.12 
Market Cap ($ Bil)1.4 
First Trading Date10/11/2019 
Distance from 52W High-1.8% 
   50 Days200 Days
DMA Price$36.05$31.16
DMA Trendupup
Distance from DMA3.0%19.1%
 3M1YR
Volatility19.9%24.3%
Downside Capture12.5712.55
Upside Capture41.9769.31
Correlation (S&P 500)15.3%13.5%
HBT Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-0.020.190.260.060.250.69
Up Beta0.05-0.670.20-0.65-0.050.75
Down Beta-0.09-0.06-0.02-0.320.010.53
Up Capture30%50%37%65%58%56%
Bmk +ve Days12182862130427
Stock +ve Days9182970134377
Down Capture-21%25%28%1%22%86%
Bmk -ve Days10253664121325
Stock -ve Days11233354112366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HBT
HBT61.7%24.3%1.91-
Sector ETF (XLF)11.1%15.2%0.4746.6%
Equity (SPY)9.5%13.6%0.4115.5%
Gold (GLD)3.6%28.7%0.11-8.1%
Commodities (DBC)37.7%21.2%1.40-32.6%
Real Estate (VNQ)12.0%14.2%0.5540.3%
Bitcoin (BTCUSD)-20.8%43.3%-0.422.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HBT
HBT20.0%28.8%0.64-
Sector ETF (XLF)9.1%18.4%0.3653.3%
Equity (SPY)11.3%17.3%0.4837.5%
Gold (GLD)17.5%19.1%0.74-3.2%
Commodities (DBC)8.0%19.6%0.29-2.0%
Real Estate (VNQ)1.2%18.9%-0.0539.3%
Bitcoin (BTCUSD)5.9%51.5%0.2917.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HBT
HBT11.8%34.7%0.54-
Sector ETF (XLF)13.3%22.1%0.5462.6%
Equity (SPY)14.9%18.0%0.7047.0%
Gold (GLD)12.0%16.5%0.59-3.3%
Commodities (DBC)7.6%18.1%0.3310.7%
Real Estate (VNQ)5.7%20.7%0.2349.7%
Bitcoin (BTCUSD)61.3%66.2%1.0118.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity1.1 Mil
Short Interest: % Change Since 9302026-9.2%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest7.5 days
Basic Shares Quantity36.4 Mil
Short % of Basic Shares2.9%

Earnings Returns History

Updated 11/4/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/26/20262.7%0.8% 
7/27/20263.9%7.7%8.7%
4/27/2026-1.3%-0.4%3.4%
1/26/2026-2.9%-2.1%-0.4%
10/20/20254.2%6.0%-2.0%
7/21/20254.1%1.5%0.1%
4/21/20251.5%6.4%12.1%
1/22/2025-0.0%7.6%13.9%
...
SUMMARY STATS   
# Positive161716
# Negative877
Median Positive2.3%5.1%8.5%
Median Negative-1.1%-3.3%-4.4%
Max Positive4.3%10.9%13.9%
Max Negative-5.7%-6.5%-6.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/26/20262.7%0.8% 
7/27/20263.9%7.7%8.7%
4/27/2026-1.3%-0.4%3.4%
1/26/2026-2.9%-2.1%-0.4%
10/20/20254.2%6.0%-2.0%
7/21/20254.1%1.5%0.1%
4/21/20251.5%6.4%12.1%
1/22/2025-0.0%7.6%13.9%
10/21/2024-5.7%-6.5%6.7%
7/22/20242.4%5.1%-4.9%
4/22/20242.2%2.0%7.4%
1/24/2024-0.9%1.2%-4.8%
10/23/20230.1%0.1%8.5%
7/24/2023-1.9%-1.0%-3.9%
4/26/20232.0%-3.3%1.7%
1/25/20234.3%7.0%12.7%
10/24/20223.3%10.9%12.8%
7/25/20220.6%7.9%9.5%
4/25/20220.4%-4.6%-6.7%
1/27/20221.6%5.8%8.2%
10/25/2021-0.5%1.7%8.5%
7/26/2021-0.3%-4.0%-4.4%
4/26/20212.5%4.8%5.2%
1/28/20210.3%0.1%9.5%
SUMMARY STATS   
# Positive161716
# Negative877
Median Positive2.3%5.1%8.5%
Median Negative-1.1%-3.3%-4.4%
Max Positive4.3%10.9%13.9%
Max Negative-5.7%-6.5%-6.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/06/202610-Q
12/31/202503/06/202610-K
09/30/202510/31/202510-Q
06/30/202508/01/202510-Q
03/31/202505/02/202510-Q
12/31/202403/07/202510-K
09/30/202410/30/202410-Q
06/30/202408/01/202410-Q
03/31/202405/01/202410-Q
12/31/202303/06/202410-K
09/30/202311/03/202310-Q
06/30/202308/02/202310-Q
03/31/202305/03/202310-Q
12/31/202203/08/202310-K
09/30/202211/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/06/202610-Q
12/31/202503/06/202610-K
09/30/202510/31/202510-Q
06/30/202508/01/202510-Q
03/31/202505/02/202510-Q
12/31/202403/07/202510-K
09/30/202410/30/202410-Q
06/30/202408/01/202410-Q
03/31/202405/01/202410-Q
12/31/202303/06/202410-K
09/30/202311/03/202310-Q
06/30/202308/02/202310-Q
03/31/202305/03/202310-Q
12/31/202203/08/202310-K
09/30/202211/08/202210-Q
06/30/202208/03/202210-Q
03/31/202205/06/202210-Q
12/31/202103/11/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/07/202110-Q
12/31/202003/12/202110-K
09/30/202011/06/202010-Q
06/30/202008/07/202010-Q
03/31/202005/12/202010-Q
12/31/201903/27/202010-K
09/30/201911/20/201910-Q

Insider Activity

Updated 8/19/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Drake, Fred LExecutive Chairmanthe Fred L. Drake Revocable TrustSell429202628.9315,742455,4161,325,428Form
2Horvath, Lawrence JEVP & Chief Lending OfficerDirectSell317202626.605,000133,0001,558,999Form
3Busch, Patrick F Patrick F Busch Declaration of Trust dated 5/6/14Sell317202626.4815,000397,2004,621,925Form
4Burwell, Eric E Eric E. Burwell Trust dated 12/21/2007Buy311202626.244,000104,960939,917Form
5Drake, Fred LExecutive Chairmanthe Fred L. Drake Revocable TrustSell223202628.602,25864,5791,760,530Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Drake, Fred LExecutive Chairmanthe Fred L. Drake Revocable TrustSell429202628.9315,742455,4161,325,428Form
2Horvath, Lawrence JEVP & Chief Lending OfficerDirectSell317202626.605,000133,0001,558,999Form
3Busch, Patrick F Patrick F Busch Declaration of Trust dated 5/6/14Sell317202626.4815,000397,2004,621,925Form
4Burwell, Eric E Eric E. Burwell Trust dated 12/21/2007Buy311202626.244,000104,960939,917Form
5Drake, Fred LExecutive Chairmanthe Fred L. Drake Revocable TrustSell223202628.602,25864,5791,760,530Form
6Drake, Fred LExecutive Chairmanthe Fred L. Drake Revocable TrustSell220202628.742,00057,4801,834,043Form
Core Cache Last Updated: 11/5/2026