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

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 annualized dividend and a yield of 3.36%. The ex-dividend date 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 every year for the last 7 years. Heartland Financial USA has a dividend payout ratio of 25.4% indicating that 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 during mid-day trading on Friday, reaching $35.72. The company’s stock had a trading volume of 193,895 shares, compared to its average volume of 211,812. The firm’s fifty day moving average price is $33.99 and its two-hundred day moving average price is $33.63. 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 has a market cap of $1.53 billion, a P/E ratio of 21.14 and a beta of 1.06. Heartland Financial USA has a 12-month low of $26.10 and a 12-month high of $39.39.

Heartland Financial USA (NASDAQ:HTLF) last issued 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 company had revenue of $144.09 million for the quarter, compared to analysts’ expectations of $178.60 million. Heartland Financial USA had a net margin of 8.57% and a return on equity of 11.56%. During the same quarter last year, the company posted $1.37 earnings per share. On average, equities analysts forecast that Heartland Financial USA will post 4.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HTLF has been the topic of several research reports. TheStreet cut Heartland Financial USA from a “b” rating to a “c+” rating in a research report on Tuesday, January 30th. 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 increased their price target on Heartland Financial USA from $40.00 to $43.00 and gave the company an “overweight” rating in a research note 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 price objective for the company in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Heartland Financial USA presently has an average rating of “Moderate Buy” and an average target price 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.