DENVER—Frank Mark A, Executive Vice President and Chief Operations Officer of Heartland Financial USA Inc. (NASDAQ:HTLF), reported a sale of company stock valued at approximately $29,046. According to a recent SEC filing, Frank sold 432 shares at an average price of $67.2382 per share on November 22, 2024. Following this transaction, Frank retains ownership of 1,060 shares of Heartland Financial's common stock. This transaction was executed under direct ownership, as detailed in the filing.
"In other recent news, Heartland Financial reported an increase in their core earnings per share (EPS) estimate for 2024 from $4.60 to $4.65, following their third quarter results. The EPS estimate for 2025 remains steady at $4.20. This development led to DA Davidson, a financial services firm, upgrading the price target for Heartland Financial to $60.00 from the previous target of $55.00, while maintaining a Neutral rating on the stock.
In addition, Heartland Financial is making headlines with the recent approval of their planned merger with UMB Financial (NASDAQ:UMBF) Corporation. This merger will result in Heartland Financial becoming a wholly owned subsidiary of UMB, marking a significant step in the ongoing consolidation within the regional banking sector.
These recent developments come amidst a significant uptick in regional bank mergers, as noted by analysts from LSEG and Gabelli Funds. Meanwhile, Heartland Financial also announced the resignation of Paul Taylor, a director at the company, stating it was a personal decision, unrelated to any disputes with the company's management or operations."
InvestingPro Insights
As Heartland Financial USA Inc. (NASDAQ:HTLF) experiences insider activity, it's worth noting some key financial metrics and trends that provide context to the company's current position. According to InvestingPro data, HTLF's market capitalization stands at $2.96 billion, reflecting its substantial presence in the financial sector.
The company's stock has shown remarkable performance, with a one-year price total return of 128.15% as of the most recent data. This strong return aligns with an InvestingPro Tip indicating that HTLF has had a high return over the last year. Additionally, the stock is trading near its 52-week high, with the current price at 98.08% of that peak.
Investors should be aware that HTLF is trading at a relatively high earnings multiple, with a P/E ratio of 38.67. This valuation metric suggests that the market has high expectations for the company's future growth. However, an InvestingPro Tip notes that net income is expected to grow this year, potentially justifying the premium valuation.
For those interested in dividend stocks, HTLF offers a dividend yield of 1.78% and has maintained dividend payments for 29 consecutive years. This consistent dividend history demonstrates the company's commitment to returning value to shareholders.
It's worth noting that InvestingPro offers 13 additional tips for HTLF, providing a more comprehensive analysis for investors seeking deeper insights into the company's financial health and market position.
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