Heartland Financial USA, Inc. (NASDAQ:HTLF) Plans Quarterly Dividend of $0.30

Heartland Financial USA, Inc. (NASDAQ:HTLF) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.30 per share by the bank on Tuesday, May 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, May 10th.

Heartland Financial USA has increased its dividend payment by an average of 14.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Heartland Financial USA has a dividend payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Heartland Financial USA to earn $4.62 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 26.0%.

Heartland Financial USA Trading Up 1.1 %

NASDAQ:HTLF opened at $44.05 on Thursday. The stock has a market cap of $1.88 billion, a PE ratio of 26.54 and a beta of 0.98. Heartland Financial USA has a fifty-two week low of $26.10 and a fifty-two week high of $44.47. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50-day moving average is $35.56 and its two-hundred day moving average is $34.41.

Heartland Financial USA (NASDAQ:HTLF) last issued its earnings results on Monday, April 29th. The bank reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Heartland Financial USA had a net margin of 8.17% and a return on equity of 11.50%. The company had revenue of $279.39 million during the quarter, compared to analyst estimates of $182.73 million. During the same quarter last year, the business posted $1.22 EPS. As a group, equities research analysts forecast that Heartland Financial USA will post 4.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Heartland Financial USA

In related news, Director Robert B. Engel sold 7,600 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $25.26, for a total transaction of $191,976.00. Following the completion of the transaction, the director now directly owns 17,000 shares in the company, valued at approximately $429,420. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

HTLF has been the subject of a number of recent research reports. DA Davidson raised their price target on Heartland Financial USA from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. StockNews.com started coverage on shares of Heartland Financial USA in a research report on Wednesday. They issued a “hold” rating for the company. Raymond James upgraded shares of Heartland Financial USA from a “market perform” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a report on Thursday, February 29th. Keefe, Bruyette & Woods increased their target price on shares of Heartland Financial USA from $41.00 to $51.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. Finally, Piper Sandler increased their price objective on Heartland Financial USA from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Heartland Financial USA Company Profile

Heartland Financial USA, Inc, a bank holding company, provides commercial, small business, and consumer banking services to individuals and businesses in the United States. The company accepts various deposit products, including checking, demand deposit accounts, NOW accounts, savings, money market, and individual retirement; certificates of deposit; and other time deposits.