Heartland Financial USA said on January 20, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of February 9, 2023 will receive the payment on February 28, 2023. Previously, the company paid $0.28 per share.

At the most recent share price of $45.86 / share, the stock’s dividend yield was 2.62%. Additionally, the company’s dividend payout ratio is 0.25, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is 0.50%, demonstrating that it consistently increased its dividends over time.

Analyst Price Forecast Suggests 20.10% Upside

As of January 30, 2023, the average one-year price target for Heartland Financial USA is $55.08. The forecasts range from a low of $52.52 to a high of $57.75. The average price target represents an increase of 20.10% from its latest reported closing price of $45.86.

The projected annual revenue for Heartland Financial USA is $786MM, an increase of 13.35%. The projected annual EPS is $5.45, an increase of 19.86%.

Fund Sentiment

There are 433 funds or institutions reporting positions in Heartland Financial USA. This is a decrease of 6 owner(s) or 1.37%.

Average portfolio weight of all funds dedicated to US:HTLF is 0.1577%, an increase of 2.6205%. Total shares owned by institutions increased in the last three months by 1.60% to 31,647K shares.

What are large shareholders doing?

Earnest Partners holds 2,795,791 shares representing 6.58% ownership of the company. In it’s prior filing, the firm reported owning 2,698,949 shares, representing an increase of 3.46%. The firm increased its portfolio allocation in HTLF by 9.04% over the last quarter.

Dubuque Bank & Trust holds 1,640,534 shares representing 3.86% ownership of the company. In it’s prior filing, the firm reported owning 1,644,720 shares, representing a decrease of 0.26%. The firm increased its portfolio allocation in HTLF by 9.41% over the last quarter.

Thrivent Financial For Lutherans holds 1,631,656 shares representing 3.84% ownership of the company. In it’s prior filing, the firm reported owning 1,548,152 shares, representing an increase of 5.12%. The firm decreased its portfolio allocation in HTLF by 48.05% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,093,186 shares representing 2.57% ownership of the company. In it’s prior filing, the firm reported owning 1,071,232 shares, representing an increase of 2.01%. The firm increased its portfolio allocation in HTLF by 11.04% over the last quarter.

IWM – iShares Russell 2000 ETF holds 887,818 shares representing 2.09% ownership of the company. In it’s prior filing, the firm reported owning 935,712 shares, representing a decrease of 5.39%. The firm increased its portfolio allocation in HTLF by 7.26% over the last quarter.

Heartland Financial USA Background Information
(This description is provided by the company.)

Heartland Financial USA, Inc. is a diversified financial services company with assets of $17.91 billion. The company provides banking, mortgage, private client, investment, insurance and consumer finance services to individuals and businesses. As of December 31, 2020, Heartland had 142 banking locations serving 102 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.