Heartland Financial USA Reports Lower than Expected Quarterly Earnings
Iowa-based bank Heartland Financial USA recently released its quarterly earnings data on April 24th, and the results were lower than what analysts had predicted. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by $0.13. While this may seem like a minor difference, it represents a 10% deviation from expectations.
Heartland Financial USA had a net margin of 25.38%, and a return on equity of 13.95%. However, despite these positive figures, revenue was also lower than projected at $246.98 million compared to the consensus estimate of $191.42 million.
It is worth noting that during the same period last year, Heartland Financial USA earned $1.16 EPS, indicating that there has been some decline in profitability over time.
In February 2023, company director Martin J. Schmitz sold 4,000 shares of stock at an average price of $50.21 per share for a total of $200,840.00 in transaction value. Following this sale, Schmitz now directly owns 65,340 shares of Heartland’s stock worth approximately $3,280,721.
However, other insiders have been purchasing the company’s stock in recent months – notably Director Robert B Engel purchased 4,002 shares for a total transaction value of around $101k in March. In the last three months alone, insiders have purchased more than 11k shares totaling over $279k in value – demonstrating that those close to Heartland Financial USA believe in its future prospects.
Shares of NASDAQ:HTLF opened at $31.68 on April 29th; however it remains to be seen how much investor confidence may drop following Q1’s less-than-expected performance.
Overall Heartland Financial USA has struggled to maintain its position in the market with a 12 month low of $31.00 and a high of $51.60. The company has a 50-day moving average price of $40.78 and a 200 day moving average price of $45.25, but with the recent news analysts are expecting some potential shift in position.
Heartland Financial USA currently has a market cap of $1.35 billion with a price-to-earnings ratio (P/E) of 6.32 and an above-average beta rating of 1.05, making it potentially more volatile than similar stocks in the industry.
Investors will no doubt continue to follow Heartland Financial USA closely as events unfold – both good and bad over the coming months – for signs on where this up-and-down stock might be heading next in its journey toward financial stability and success.
Heartland Financial USA, Inc. Faces Economic Quandary: Investors Urged to Re-Evaluate Their Positions
On April 29, 2023, Heartland Financial USA, Inc. (NASDAQ: HTLF) found itself in the midst of an economic quandary after a recent report from DA Davidson sources revealed a decline in earnings estimates for FY2023. According to these reports, the esteemed bank would expect to earn $4.85 per share for the year as compared to their previous estimate of $5.50. In light of such news, it is essential that both current and potential investors re-evaluate their position on this stock.
It’s important to note that the consensus estimate for Heartland Financial USA’s current full-year earnings is approximately $5.23 per share – clearly indicating that DA Davidson analyst J. Rulis’ report has surely caused alarm bells to ring across multiple business sectors.
In recent developments, stock analysts at Piper Sandler also reduced their price objective on shares of HTLF from $49.00 to $44.00 in a research report on Tuesday – further adding fuel to the fire of speculation around Heartland Financial USA’s future stability.
However, other analysts such as StockNews.com weighed in with a “hold” rating on the stock through a recent research report issued on Thursday, March 16th – offering an element of balance within this vague economic space.
Heartland Financial USA also recently declared a quarterly dividend scheduled for payment on Friday, May 26th. It is important to note that shareholders who had bought shares up until May 12th will receive a dividend of $0.30 per share while enjoying an annualized dividend yielding at 3.79%. The ex-dividend date of this dividend is set for Thursday, May 11th – signifying just another development in what seems like a more complex financial puzzle than initially thought.
Given all this information about Heartland Financial USA’s current status and past dealings – it is best advised that current and potential investors alike should tread carefully and weigh up all the factors before making any rash decisions. With this quandary now taking a tangible effect on stock prices, maintaining an unbiased approach and utilizing previous performances as indicators may be the best course of action for those interested in this market space.
