Equities research analysts forecast that Heartland Financial USA Inc (NASDAQ:HTLF) will post $137.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Heartland Financial USA’s earnings. The highest sales estimate is $139.90 million and the lowest is $135.90 million. Heartland Financial USA posted sales of $137.33 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.4%. The company is scheduled to issue its next quarterly earnings results on Monday, January 27th.
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On average, analysts expect that Heartland Financial USA will report full-year sales of $541.19 million for the current year, with estimates ranging from $536.98 million to $545.40 million. For the next year, analysts expect that the company will post sales of $565.65 million, with estimates ranging from $557.00 million to $574.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Heartland Financial USA.
Heartland Financial USA (NASDAQ:HTLF) last released its earnings results on Monday, October 28th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The company had revenue of $140.72 million during the quarter, compared to analyst estimates of $137.57 million. Heartland Financial USA had a net margin of 23.03% and a return on equity of 10.20%. During the same period in the prior year, the firm posted $0.97 EPS.
A number of research analysts have recently commented on HTLF shares. ValuEngine upgraded Heartland Financial USA from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded Heartland Financial USA from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Piper Jaffray Companies lowered their target price on Heartland Financial USA from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Finally, BidaskClub upgraded Heartland Financial USA from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.
In related news, Director Barry H. Orr sold 13,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $48.13, for a total value of $625,690.00. Following the completion of the sale, the director now directly owns 244,018 shares in the company, valued at $11,744,586.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Bryan Mckeag purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average price of $41.76 per share, with a total value of $41,760.00. The disclosure for this purchase can be found here. 6.10% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Heartland Financial USA by 5.6% in the second quarter. BlackRock Inc. now owns 2,320,889 shares of the bank’s stock worth $103,813,000 after buying an additional 122,877 shares during the last quarter. Vanguard Group Inc. lifted its position in Heartland Financial USA by 3.7% in the second quarter. Vanguard Group Inc. now owns 2,241,476 shares of the bank’s stock worth $100,260,000 after buying an additional 80,897 shares during the last quarter. Dubuque Bank & Trust Co. lifted its position in Heartland Financial USA by 0.4% in the third quarter. Dubuque Bank & Trust Co. now owns 1,658,879 shares of the bank’s stock worth $74,218,000 after buying an additional 6,239 shares during the last quarter. Earnest Partners LLC lifted its position in Heartland Financial USA by 3.3% in the second quarter. Earnest Partners LLC now owns 1,542,406 shares of the bank’s stock worth $68,992,000 after buying an additional 49,281 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Heartland Financial USA by 18.4% in the second quarter. Nuveen Asset Management LLC now owns 888,052 shares of the bank’s stock worth $39,723,000 after buying an additional 138,029 shares during the last quarter. Institutional investors own 50.88% of the company’s stock.
Heartland Financial USA stock traded down $0.27 during midday trading on Thursday, hitting $47.91. The stock had a trading volume of 67,600 shares, compared to its average volume of 103,770. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.77 billion, a PE ratio of 13.61 and a beta of 0.98. Heartland Financial USA has a 52-week low of $40.80 and a 52-week high of $55.52. The firm’s fifty day moving average is $45.63 and its two-hundred day moving average is $44.59.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. Heartland Financial USA’s dividend payout ratio is currently 20.45%.
About Heartland Financial USA
Heartland Financial USA, Inc, a multi-bank holding company, provides commercial, small business, and consumer banking services to individuals and businesses in the United States. It accepts various deposit products, including checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, health savings accounts, and other time deposits.
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