Heartland Financial USA Inc (NASDAQ:HTLF) Plans Dividend Increase – $0.18 Per Share

Heartland Financial USA Inc (NASDAQ:HTLF) declared a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Investors of record on Friday, August 9th will be given a dividend of 0.18 per share by the bank on Friday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, August 8th. This is a boost from Heartland Financial USA’s previous quarterly dividend of $0.16.

Heartland Financial USA has increased its dividend payment by an average of 10.5% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Heartland Financial USA has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Heartland Financial USA to earn $3.98 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 18.1%.

HTLF opened at $45.34 on Wednesday. The firm’s fifty day simple moving average is $44.66. Heartland Financial USA has a 52-week low of $40.80 and a 52-week high of $61.95. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.70 billion, a PE ratio of 11.40, a P/E/G ratio of 1.17 and a beta of 0.95.

Heartland Financial USA (NASDAQ:HTLF) last issued its earnings results on Monday, July 29th. The bank reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.32. Heartland Financial USA had a return on equity of 10.75% and a net margin of 23.19%. The business had revenue of $138.77 million during the quarter, compared to analysts’ expectations of $135.69 million. During the same period in the prior year, the business earned $0.85 EPS. Sell-side analysts anticipate that Heartland Financial USA will post 3.97 EPS for the current fiscal year.

Several brokerages have weighed in on HTLF. 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 report on Tuesday, July 30th. Zacks Investment Research upgraded Heartland Financial USA from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. BidaskClub upgraded Heartland Financial USA from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, ValuEngine upgraded Heartland Financial USA from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Heartland Financial USA Company Profile

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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Dividend History for Heartland Financial USA (NASDAQ:HTLF)

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