Heartland Financial USA, Inc. to Post FY2024 Earnings of $4.60 Per Share, DA Davidson Forecasts (NASDAQ:HTLF)

Heartland Financial USA, Inc. (NASDAQ:HTLF) – Equities researchers at DA Davidson cut their FY2024 earnings per share estimates for shares of Heartland Financial USA in a report released on Thursday, October 3rd. DA Davidson analyst J. Rulis now forecasts that the bank will earn $4.60 per share for the year, down from their prior estimate of $4.65. The consensus estimate for Heartland Financial USA’s current full-year earnings is $4.73 per share. DA Davidson also issued estimates for Heartland Financial USA’s FY2025 earnings at $4.20 EPS.

Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. The firm had revenue of $188.92 million during the quarter, compared to analyst estimates of $183.19 million. Heartland Financial USA had a return on equity of 11.11% and a net margin of 7.12%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share.

Separately, StockNews.com initiated coverage on shares of Heartland Financial USA in a report on Monday. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.60.

Heartland Financial USA Trading Down 0.3 %

HTLF stock opened at $56.02 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.77 and a quick ratio of 0.75. Heartland Financial USA has a 1-year low of $26.44 and a 1-year high of $59.16. The business has a 50 day simple moving average of $54.14 and a two-hundred day simple moving average of $46.44. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 33.75 and a beta of 0.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Heartland Financial USA by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,244,151 shares of the bank’s stock valued at $114,032,000 after acquiring an additional 11,207 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Heartland Financial USA by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 2,657,168 shares of the bank’s stock worth $118,111,000 after purchasing an additional 54,030 shares during the period. Dimensional Fund Advisors LP grew its holdings in Heartland Financial USA by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,384,697 shares of the bank’s stock valued at $105,999,000 after purchasing an additional 182,245 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Heartland Financial USA in the 2nd quarter worth about $46,626,000. Finally, Millennium Management LLC raised its position in Heartland Financial USA by 2,309.0% in the 2nd quarter. Millennium Management LLC now owns 710,923 shares of the bank’s stock worth $31,601,000 after purchasing an additional 681,412 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at Heartland Financial USA

In related news, EVP Lo B. Nestman sold 4,389 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.14, for a total transaction of $220,064.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Heartland Financial USA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Tuesday, August 13th. Heartland Financial USA’s dividend payout ratio is presently 72.29%.

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.