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

Heartland Financial USA, Inc. (NASDAQ:HTLF) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 increased its dividend payment by an average of 14.5% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Heartland Financial USA has a dividend payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. 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 Up 0.7 %

Heartland Financial USA stock traded up $0.24 during midday trading 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 company has a market capitalization of $1.53 billion, a P/E ratio of 21.14 and a beta of 1.06. The company has a fifty day moving average price of $33.99 and a two-hundred day moving average price of $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.

Heartland Financial USA (NASDAQ:HTLF) last issued its earnings results 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 business had revenue of $144.09 million during the quarter, compared to analyst estimates of $178.60 million. During the same period in the previous year, the company posted $1.37 EPS. As a group, equities analysts expect that Heartland Financial USA will post 4.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on HTLF. Stephens reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Heartland Financial USA in a research report on Tuesday, January 30th. Raymond James raised 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 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. Finally, Piper Sandler boosted 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 equities research 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. According to MarketBeat.com, Heartland Financial USA has a consensus rating of “Moderate Buy” and an average target price 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.