Heartland Financial USA Inc (NASDAQ:HTLF) announced a quarterly dividend on Thursday, October 18th, Wall Street Journal reports. Investors of record on Friday, November 16th will be given a dividend of 0.14 per share by the bank on Friday, November 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, November 15th.
Heartland Financial USA has increased its dividend payment by an average of 3.2% annually over the last three years. Heartland Financial USA has a payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Heartland Financial USA to earn $4.25 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 13.2%.
Shares of NASDAQ:HTLF opened at $54.45 on Friday. Heartland Financial USA has a 12-month low of $46.50 and a 12-month high of $61.95. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.80 and a quick ratio of 0.80.
In related news, Director Martin J. Schmitz sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $60.25, for a total transaction of $482,000.00. Following the completion of the sale, the director now directly owns 68,637 shares in the company, valued at $4,135,379.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kurt Saylor sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $60.72, for a total value of $303,600.00. The disclosure for this sale can be found here. Insiders sold 32,833 shares of company stock valued at $1,982,655 over the last 90 days. Company insiders own 6.60% of the company’s stock.
A number of brokerages have issued reports on HTLF. BidaskClub downgraded Heartland Financial USA from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research raised Heartland Financial USA from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. ValuEngine upgraded Heartland Financial USA from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Finally, Raymond James cut Heartland Financial USA from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Heartland Financial USA presently has a consensus rating of “Hold” and a consensus price target of $57.60.
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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