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Equities Analysts Set Expectations for HTLF FY2024 Earnings

Heartland Financial USA logo with Finance background

Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) - Equities researchers at DA Davidson increased their FY2024 earnings per share (EPS) estimates for shares of Heartland Financial USA in a research note issued to investors on Thursday, October 31st. DA Davidson analyst J. Rulis now anticipates that the bank will earn $4.65 per share for the year, up from their prior forecast 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 - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $1.17 EPS for the quarter, meeting analysts' consensus estimates of $1.17. Heartland Financial USA had a net margin of 8.79% and a return on equity of 11.04%. The business had revenue of $272.79 million during the quarter, compared to analysts' expectations of $189.51 million. During the same quarter in the prior year, the company earned $1.12 EPS.

Separately, StockNews.com started coverage on shares of Heartland Financial USA in a research report on Thursday. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Heartland Financial USA presently has an average rating of "Moderate Buy" and an average target price of $45.60.

Check Out Our Latest Analysis on Heartland Financial USA

Heartland Financial USA Trading Down 0.4 %

Shares of HTLF traded down $0.26 during trading hours on Monday, reaching $58.41. The stock had a trading volume of 354,115 shares, compared to its average volume of 289,205. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 0.19. Heartland Financial USA has a 52 week low of $27.69 and a 52 week high of $61.56. The firm has a 50-day moving average of $56.72 and a 200 day moving average of $49.55. The company has a market cap of $2.50 billion, a P/E ratio of 32.74 and a beta of 0.94.

Hedge Funds Weigh In On Heartland Financial USA

Several hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC lifted its stake 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. lifted its stake in Heartland Financial USA by 8.0% in the 3rd 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Heartland Financial USA by 0.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,978 shares of the bank's stock valued at $1,756,000 after purchasing an additional 245 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Heartland Financial USA by 12.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,744 shares of the bank's stock valued at $1,330,000 after purchasing an additional 2,612 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Heartland Financial USA in the 3rd quarter valued at about $11,404,000. Institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In other news, EVP Lo B. Nestman sold 4,389 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.14, for a total value of $220,064.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company's stock.

Heartland Financial USA Dividend Announcement

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

About Heartland Financial USA

(Get Free Report)

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.

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