Heartland Financial USA, Inc. (NASDAQ:HTLF) to Issue $0.30 Quarterly Dividend

Heartland Financial USA, Inc. (NASDAQ:HTLF) declared 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 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Friday, May 10th.

Heartland Financial USA has raised its dividend payment by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Heartland Financial USA has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ HTLF traded up $0.24 on Friday, reaching $35.72. The stock had a trading volume of 193,895 shares, compared to its average volume of 211,812. 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 firm has a fifty day moving average of $33.99 and a two-hundred day moving average of $33.63. Heartland Financial USA has a 1-year low of $26.10 and a 1-year high of $39.39. The company has a market cap of $1.53 billion, a P/E ratio of 21.14 and a beta of 1.06.

Heartland Financial USA (NASDAQ:HTLF) last issued its quarterly earnings data on Monday, January 29th. The bank reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.40. Heartland Financial USA had a return on equity of 11.56% and a net margin of 8.57%. The firm had revenue of $144.09 million for the quarter, compared to analyst estimates of $178.60 million. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities research analysts anticipate that Heartland Financial USA will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HTLF shares. Raymond James raised Heartland Financial USA from a “market perform” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a report on Thursday, February 29th. TheStreet lowered Heartland Financial USA from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. Stephens reissued an “overweight” rating and set a $45.00 target price on shares of Heartland Financial USA in a report on Tuesday, January 30th. Finally, Piper Sandler increased their target price 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 analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.80.

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.