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

Heartland Financial USA, Inc. (NASDAQ:HTLF) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, May 10th.

Heartland Financial USA has increased its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 7 years. Heartland Financial USA has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Heartland Financial USA to earn $4.65 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 25.8%.

Heartland Financial USA Stock Performance

Shares of NASDAQ HTLF traded up $0.24 during mid-day trading on Friday, hitting $35.72. The company had a trading volume of 193,895 shares, compared to its average volume of 211,812. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 21.14 and a beta of 1.06. Heartland Financial USA has a 1 year low of $26.10 and a 1 year high of $39.39. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $33.99 and its 200-day moving average price is $33.63.

Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings results on Monday, January 29th. The bank reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.40. The company had revenue of $144.09 million during the quarter, compared to analysts’ expectations of $178.60 million. Heartland Financial USA had a return on equity of 11.56% and a net margin of 8.57%. During the same period in the previous year, the business earned $1.37 earnings per share. On average, sell-side analysts forecast that Heartland Financial USA will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HTLF has been the subject of several recent analyst reports. Raymond James upgraded Heartland Financial USA from a “market perform” rating to a “strong-buy” rating and set a $41.00 target price for the company in a research report on Thursday, February 29th. TheStreet cut Heartland Financial USA from a “b” rating to a “c+” rating in a research report on Tuesday, January 30th. Stephens restated an “overweight” rating and set a $45.00 target price on shares of Heartland Financial USA in a research report on Tuesday, January 30th. Finally, Piper Sandler upped their price objective on Heartland Financial USA from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Heartland Financial USA has an average rating of “Moderate Buy” and a consensus price target of $39.80.

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.