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

Heartland Financial USA, Inc. (NASDAQ:HTLF) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Monday, May 13th will be given 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 dividend yield of 3.36%. The ex-dividend date is Friday, May 10th.

Heartland Financial USA has increased its dividend by an average of 14.5% annually over the last three years and has raised its dividend every year for the last 7 years. Heartland Financial USA has a dividend 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 Trading Up 0.7 %

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. Heartland Financial USA has a 12-month low of $26.10 and a 12-month high of $39.39. The stock has a fifty day moving average price of $33.99 and a two-hundred day moving average price of $33.63. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 21.14 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.20.

Heartland Financial USA (NASDAQ:HTLF) last posted its earnings results on Monday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.40. The firm had revenue of $144.09 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.37 EPS. As a group, sell-side analysts forecast that Heartland Financial USA will post 4.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on HTLF shares. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Heartland Financial USA in a research note on Tuesday, January 30th. Piper Sandler raised their price target on shares of Heartland Financial USA from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. TheStreet lowered shares of Heartland Financial USA from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. Finally, Raymond James raised shares of 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. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, 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.