DA Davidson Has Positive Forecast for HTLF FY2024 Earnings

Heartland Financial USA, Inc. (NASDAQ:HTLF) – Equities research analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for Heartland Financial USA in a research report issued to clients and investors on Thursday, October 31st. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings per share of $4.65 for the year, up from their previous estimate of $4.60. The consensus estimate for Heartland Financial USA’s current full-year earnings is $4.72 per share.

Heartland Financial USA (NASDAQ:HTLF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $1.17 earnings per share for the quarter, hitting the consensus estimate of $1.17. The company had revenue of $272.79 million for the quarter, compared to the consensus estimate of $189.51 million. Heartland Financial USA had a net margin of 8.79% and a return on equity of 11.04%. During the same quarter in the prior year, the company earned $1.12 EPS.

Separately, StockNews.com initiated coverage on shares of Heartland Financial USA in a report on Thursday, October 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.60.

Heartland Financial USA Stock Down 0.4 %

HTLF opened at $58.41 on Monday. The company has a fifty day moving average of $56.72 and a two-hundred day moving average of $49.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.75 and a current ratio of 0.77. Heartland Financial USA has a fifty-two week low of $27.69 and a fifty-two week high of $61.56. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 32.63 and a beta of 0.94.

Heartland Financial USA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, November 12th. Heartland Financial USA’s dividend payout ratio (DPR) is presently 67.04%.

Insider Activity

In other Heartland Financial USA news, EVP Lo B. Nestman sold 4,389 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.14, for a total value of $220,064.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Heartland Financial USA

A number of hedge funds have recently modified their holdings of HTLF. Versor Investments LP lifted its position in Heartland Financial USA by 13.6% in the third quarter. Versor Investments LP now owns 83,489 shares of the bank’s stock valued at $4,734,000 after buying an additional 9,982 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in Heartland Financial USA by 39.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 41,042 shares of the bank’s stock valued at $2,327,000 after purchasing an additional 11,589 shares during the last quarter. Principal Financial Group Inc. raised its position in Heartland Financial USA by 8.0% in the third quarter. Principal Financial Group Inc. now owns 28,679 shares of the bank’s stock valued at $1,626,000 after purchasing an additional 2,136 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Heartland Financial USA by 0.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 30,978 shares of the bank’s stock worth $1,756,000 after buying an additional 245 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Heartland Financial USA by 12.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,744 shares of the bank’s stock valued at $1,330,000 after buying an additional 2,612 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About Heartland Financial USA

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.