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

Heartland Financial USA, Inc. (NASDAQ:HTLF - Get Free Report) 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 increased its dividend every year for the last 7 years. Heartland Financial USA has a 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 Up 0.7 %

Shares of NASDAQ HTLF traded up $0.24 during mid-day trading on Friday, reaching $35.72. The company had a trading volume of 193,895 shares, compared to its average volume of 211,812. 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 firm has a 50 day simple moving average of $33.99 and a two-hundred day simple moving average of $33.63. 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 52-week low of $26.10 and a 52-week high of $39.39.

Heartland Financial USA (NASDAQ:HTLF - Get Free Report) last posted 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 net margin of 8.57% and a return on equity of 11.56%. The firm had revenue of $144.09 million for the quarter, compared to the consensus estimate of $178.60 million. During the same period last year, the firm posted $1.37 EPS. Sell-side analysts predict that Heartland Financial USA will post 4.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HTLF. Stephens reissued an "overweight" rating and set a $45.00 price objective on shares of Heartland Financial USA in a research report on Tuesday, January 30th. TheStreet cut shares of Heartland Financial USA from a "b" rating to a "c+" rating in a research note on Tuesday, January 30th. Piper Sandler raised their target price on shares of Heartland Financial USA from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 30th. Finally, Raymond James upgraded shares of Heartland Financial USA from a "market perform" rating to a "strong-buy" rating and set a $41.00 target price for the company in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Heartland Financial USA presently has a consensus rating of "Moderate Buy" and a consensus 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.