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General information

Country: UNITED STATES

Sector: Banks — Regional

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, savings, money market, individual retirement, and health savings accounts; certificates of deposit; and other time deposits. The company also offers commercial and industrial loans; commercial real estate loans; real estate mortgage loans; small business loans; agricultural loans; consumer loans comprising motor vehicle and home improvement loans, home equity line of credit, and fixed rate home equity and personal lines of credit; and credit cards for commercial, business, and personal use. In addition, it provides online banking, mobile banking, telephone banking, bill payment, automated clearing house, wire transfer, zero balance account, transaction reporting, lock box, remote deposit capture, accounts receivable, investment sweep account, reconciliation, treasury management, foreign exchange, and various fraud prevention services, such as check and electronic positive pay, and virus/malware protection service, as well as commercial purchasing and merchant credit cards, debit cards, and automated teller machines...
Website: htlf.com



Growth: Pretty weak revenue growth rate 3.5%, there is slowdown compared to average historical growth rates 54.3%. The revenue growth dynamics is unstable

Profitability: LTM net profit margin is positive, +37.8%. On average the margin is decreasing unsteadily. Gross margin is high, +100.0%.

Cash Flow Generation: Dividend yield for the last twelve months 7.0%.

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 27.7% higher than minimum and 13.6% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, Net Income margin, industries and geography on average are valued 5.4x by P / Sales multiple , the company can be >100% undervalued

Insiders: For the last 3 months insiders sold company shares on $0.2 mln (-0.018% of cap.)

Key Financials (Download financials)

Ticker: HTLFP
Share price, USD:  (-0.6%)25.05
year average price 24.10  


year start price 20.50 2023-05-11

min close price 20.33 2023-05-12

max close price 25.56 2024-02-29

current price 25.05 2024-05-09
Common stocks: 36 851 000

Dividend Yield:  7.0%
P / E LTM: 4.1x
P / E annualized: 4.7x
Last revenue growth (y/y):  3.5%
Last growth of Net Income (y/y):  -5.8%
Historical revenue growth:  54.3%
Historical growth of Net Income:  36.2%
P / Sales: 1.5x
Margin (Net Income LTM / Revenue): 37.8%
Fundamental value created in LTM:
Market Cap ($m): 923
Price to Book: 0.5x

Revenue and Net Income

Quarterly values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol HTLFP HTLFP HTLFP HTLFP HTLFP HTLFP HTLFP
reportedCurrency USD USD USD USD USD USD USD
cik 920 112 920 112 920 112 920 112 920 112 920 112 920 112
fillingDate 2024-03-31 2024-02-23 2023-11-08 2023-08-04 2023-05-05 2023-02-23 2022-11-07
acceptedDate 2024-03-29 20:00:00 2024-02-23 11:45:24 2023-11-08 17:24:36 2023-08-04 14:30:59 2023-05-05 16:08:50 2023-02-23 16:11:58 2022-11-07 12:43:20
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
revenue 279M 144M 174M 183M 181M 193M 185M
costOfRevenue 0 0 0 0 0 0 0
grossProfit 279M 144M 174M 183M 181M 193M 0
grossProfitRatio 1.000 1.000 1.000 1.000 1.000 1.000 0
researchAndDevelopmentExpenses 0 0 0 0 0 0 0
generalAndAdministrativeExpenses 16M 75M 66M 65M 62M 62M 63M
sellingAndMarketingExpenses 1M 2M 2M 3M 2M 2M 2M
sellingGeneralAndAdministrativeExpenses 90M 77M 67M 68M 64M 63M 64M
otherExpenses -38M -50M -180M -186M 0 180M 0
operatingExpenses 38M 50M -112M -118M 18M 55M 0
costAndExpenses 210M 235M -112M -118M 18M 55M 0
interestIncome 0 256M 245M 236M 217M 205M 176M
interestExpense 13M 12M 100M 88M 65M 39M 20M
depreciationAndAmortization 1M 2M 2M 2M 2M 2M 6M
ebitda -10M 2M 63M 67M 135M 120M 96M
ebitdaratio -0.037 0.011 0.363 0.363 0.744 0.621 0.520
operatingIncome 76M -84M 62M 65M 133M 118M 0
operatingIncomeRatio 0.271 -0.583 0.354 0.354 0.734 0.612 0
totalOtherIncomeExpensesNet 67M -98M 62M 0 -65M -43M 0
incomeBeforeTax 67M -98M 62M 65M 68M 75M 71M
incomeBeforeTaxRatio 0.241 -0.678 0.354 0.354 0.376 0.387 0.381
incomeTaxExpense 16M -27M 13M 15M 15M 14M 14M
netIncome 52M -70M 48M 49M 53M 61M 57M
netIncomeRatio 0.185 -0.489 0.276 0.270 0.291 0.315 0.305
eps 1.210 -1.650 1.080 1.110 1.190 1.430 1.480
epsdiluted 1.200 -1.650 1.080 1.110 1.190 1.430 1.480
weightedAverageShsOut 43M 43M 43M 43M 43M 37M 37M
weightedAverageShsOutDil 43M 43M 43M 43M 43M 37M 37M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol HTLFP HTLFP HTLFP HTLFP HTLFP HTLFP HTLFP
reportedCurrency USD USD USD USD USD USD USD
cik 920 112 920 112 920 112 920 112 920 112 920 112 920 112
fillingDate 2024-03-31 2024-02-23 2023-11-08 2023-08-04 2023-05-05 2023-02-23 2022-11-07
acceptedDate 2024-03-29 20:00:00 2024-02-23 11:45:24 2023-11-08 17:24:36 2023-08-04 14:30:59 2023-05-05 16:08:50 2023-02-23 16:11:58 2022-11-07 12:43:20
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 444M 324M 349M 402M 364M 365M 402M
shortTermInvestments 0 -600M 99M 83M 88M 54M 0
cashAndShortTermInvestments 444M -276M 349M 402M 364M 365M 402M
netReceivables 0 0 11 762M 11 607M 11 383M 11 319M 0
inventory 0 0 -12 159M 0 0 0 0
otherCurrentAssets 448M 369M 397M 0 0 0 0
totalCurrentAssets 448M 369M 349M 402M 364M 11 682M 0
propertyPlantEquipmentNet 177M 203M 187M 190M 191M 197M 195M
goodwill 576M 576M 576M 576M 576M 576M 576M
intangibleAssets 17M 18M 20M 22M 23M 33M 35M
goodwillAndIntangibleAssets 593M 594M 596M 598M 599M 609M 611M
longTermInvestments 659M 202M 6 408M 6 705M 7 001M 7 051M 6 971M
taxAssets 16 559M 17 401M 0 0 0 0 0
otherNonCurrentAssets 697M 643M -7 192M -7 493M -7 792M -7 066M 0
totalNonCurrentAssets 18 685M 19 043M 7 192M 7 493M 7 792M 792M 0
otherAssets 0 0 12 589M 12 330M 12 027M 7 771M 19 683M
totalAssets 19 133M 19 412M 20 130M 20 225M 20 183M 20 244M 19 683M
accountPayables 0 0 0 0 0 0 0
shortTermDebt 650M 629M 393M 44M 92M 376M 6M
taxPayables 0 0 0 0 0 0 0
deferredRevenue 0 0 0 0 0 0 0
otherCurrentLiabilities 4 861M 7 226M -393M -44M -92M 0 0
totalCurrentLiabilities 5 511M 7 855M 393M 44M 92M 376M 0
longTermDebt 373M 372M 372M 372M 372M 372M 223M
deferredRevenueNonCurrent 0 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0 0 0 0
otherNonCurrentLiabilities 11 271M -4 055M -372M -372M -280M 17 761M 0
totalNonCurrentLiabilities 11 643M -3 682M 372M 372M 92M 18 133M 0
otherLiabilities 0 -1.000 17 540M 17 949M 18 168M 0 18 027M
capitalLeaseObligations 0 23M 0 0 0 0 0
totalLiabilities 17 154M 4 173M 18 304M 18 366M 18 353M 18 509M 18 027M
preferredStock 111M 111M 111M 111M 111M 111M 111M
commonStock 43M 43M 43M 43M 43M 42M 42M
retainedEarnings 1 178M 1 142M 1 227M 1 194M 1 159M 1 121M 1 074M
accumulatedOtherComprehensiveIncomeLoss -446M -453M -643M -575M -567M -620M -651M
othertotalStockholdersEquity 1 093M 1 091M 1 088M 1 087M 1 084M 1 081M 1 079M
totalStockholdersEquity 1 979M 1 933M 1 826M 1 859M 1 829M 1 735M 1 656M
totalEquity 1 979M 1 933M 1 826M 1 859M 1 829M 1 735M 1 656M
totalLiabilitiesAndStockholdersEquity 19 133M 6 106M 20 130M 20 225M 20 183M 20 244M 19 683M
minorityInterest 0 0 0 0 0 0 0
totalLiabilitiesAndTotalEquity 19 133M 6 106M 20 130M 20 225M 20 183M 20 244M 19 683M
totalInvestments 659M 202M 6 408M 6 705M 7 001M 7 105M 0
totalDebt 1 023M 1 024M 765M 417M 464M 748M 229M
netDebt 578M 700M 415M 15M 101M 383M -172M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2024 q1 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol HTLFP HTLFP HTLFP HTLFP HTLFP HTLFP HTLFP
reportedCurrency USD USD USD USD USD USD USD
cik 920 112 920 112 920 112 920 112 920 112 920 112 920 112
fillingDate 2024-03-31 2024-02-23 2023-11-08 2023-08-04 2023-05-05 2023-02-23 2022-11-07
acceptedDate 2024-03-30 20:00:00 2024-02-23 11:45:24 2023-11-08 17:24:36 2023-08-04 14:30:59 2023-05-05 16:08:50 2023-02-23 16:11:58 2022-11-07 12:43:20
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4 Q3
netIncome 52M -70M 48M 49M 53M 61M 57M
depreciationAndAmortization 0 5M 5M 5M 5M 6M 6M
deferredIncomeTax 0 -9M 9M 9M 0 -4M 0
stockBasedCompensation 0 2M 849 000 2M 5M 751 000 2M
changeInWorkingCapital 0 -5M 8M 17M 14M -12M -821 000
accountsReceivables 0 -2M -7M -2M -130 000 -12M -5M
inventory 0 0 0 0 0 0 0
accountsPayables 0 -710 000 16M 17M 13M 3M 574 000
otherWorkingCapital 0 -2M -2M 2M 806 000 -3M 4M
otherNonCashItems -52M -47M 142M 28M -3M 24M 61M
netCashProvidedByOperatingActivities 0 -125M 212M 110M 74M 75M 125M
investmentsInPropertyPlantAndEquipment 0 -1M -3M -3M -248 000 -3M -4M
acquisitionsNet 0 5M 3M 3M 0 0 0
purchasesOfInvestments 0 -61M -6M -83M -188M -245M -193M
salesMaturitiesOfInvestments 0 1 019M 191M 326M 297M 166M 252M
otherInvestingActivites 0 -178M -219M -236M -55M -493M -241M
netCashUsedForInvestingActivites 0 783M -35M 7M 55M -575M -186M
debtRepayment 0 -230M -219M -98M -285M -30 000 -61M
commonStockIssued 0 940 000 71 000 1M 242 000 979 000 214 000
commonStockRepurchased 0 459M 0 0 0 0 0
dividendsPaid 0 -15M -15M -15M -15M -14M -13M
otherFinancingActivites 0 -899M 4M 32M 169M 476M 151M
netCashUsedProvidedByFinancingActivities 0 -684M -230M -79M -130M 463M 76M
effectOfForexChangesOnCash 0 28M 0 0 0 0 0
netChangeInCash 0 -25M -52M 38M -976 000 -37M 15M
cashAtEndOfPeriod 323M 323M 348M 400M 362M 363M 400M
cashAtBeginningOfPeriod 323M 348M 400M 362M 363M 400M 385M
operatingCashFlow 0 -125M 212M 110M 74M 75M 125M
capitalExpenditure 0 -1M -3M -3M -248 000 -3M -4M
freeCashFlow 0 -126M 210M 107M 74M 72M 121M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

SEC forms

Show financial reports only

SEC form 10
2024-02-23 00:00 ET
Heartland Financial USA reported for 2023 q4
SEC form 8
2024-01-29 00:00 ET
Heartland Financial USA published news for 2023 q4
SEC form 8
2024-01-29 00:00 ET
Heartland Financial USA published news for 2023 q4
SEC form 8
2024-01-29 00:00 ET
Heartland Financial USA published news for 2023 q4
SEC form 10
2023-11-08 00:00 ET
Heartland Financial USA reported for 2023 q3
SEC form 10
2023-08-04 00:00 ET
Heartland Financial USA reported for 2023 q2
SEC form 8
2023-07-31 00:00 ET
Heartland Financial USA published news for 2023 q2
SEC form 10
2023-05-05 00:00 ET
Heartland Financial USA reported for 2023 q1
SEC form 8
2023-04-24 00:00 ET
Heartland Financial USA published news for 2023 q1
SEC form 10
2023-02-23 16:11 ET
Heartland Financial USA reported for 2022 q4
SEC form 10
2023-02-23 00:00 ET
Heartland Financial USA reported for 2022 q4
SEC form 6
2023-01-30 16:04 ET
Heartland Financial USA published news for 2022 q4
SEC form 8
2023-01-30 00:00 ET
Heartland Financial USA published news for 2022 q4
SEC form 6
2023-01-20 14:07 ET
Heartland Financial USA published news for 2022 q4
SEC form 6
2023-01-20 14:04 ET
Heartland Financial USA published news for 2022 q4
SEC form 6
2022-12-15 09:14 ET
Heartland Financial USA published news for 2022 q3
SEC form 6
2022-12-05 17:23 ET
Heartland Financial USA published news for 2022 q3
SEC form 10
2022-11-07 12:43 ET
Heartland Financial USA reported for 2022 q3
SEC form 10
2022-11-07 00:00 ET
Heartland Financial USA reported for 2022 q3
SEC form 6
2022-11-02 17:22 ET
Heartland Financial USA published news for 2022 q3
SEC form 6
2022-10-31 16:36 ET
Heartland Financial USA published news for 2022 q3
SEC form 6
2022-10-31 16:04 ET
Heartland Financial USA published news for 2022 q3
SEC form 8
2022-10-31 00:00 ET
Heartland Financial USA published news for 2022 q3
SEC form 6
2022-10-19 14:07 ET
Heartland Financial USA published news for 2022 q3
SEC form 6
2022-10-19 14:02 ET
Heartland Financial USA published news for 2022 q3
SEC form 10
2022-08-05 16:28 ET
Heartland Financial USA reported for 2022 q2
SEC form 10
2022-08-05 00:00 ET
Heartland Financial USA reported for 2022 q2
SEC form 6
2022-07-25 16:32 ET
Heartland Financial USA published news for 2022 q2
SEC form 6
2022-07-25 16:04 ET
Heartland Financial USA published news for 2022 q2
SEC form 8
2022-07-25 00:00 ET
Heartland Financial USA published news for 2022 q2
SEC form 6
2022-07-21 15:10 ET
Heartland Financial USA published news for 2022 q2
SEC form 6
2022-07-21 15:07 ET
Heartland Financial USA published news for 2022 q2
SEC form 6
2022-06-17 16:38 ET
Heartland Financial USA published news for 2022 q1
SEC form 6
2022-06-17 09:52 ET
Heartland Financial USA published news for 2022 q1
SEC form 6
2022-06-15 13:34 ET
Heartland Financial USA published news for 2022 q1
SEC form 8
2022-06-15 00:00 ET
Heartland Financial USA published news for 2022 q1
SEC form 10
2022-05-09 16:11 ET
Heartland Financial USA reported for 2022 q1
SEC form 6
2022-05-09 16:08 ET
Heartland Financial USA published news for 2022 q1
SEC form 10
2022-05-09 00:00 ET
Heartland Financial USA reported for 2022 q1
SEC form 6
2022-04-27 10:34 ET
Heartland Financial USA published news for 2022 q1
SEC form 6
2022-04-25 16:03 ET
Heartland Financial USA published news for 2022 q1
SEC form 8
2022-04-25 00:00 ET
Heartland Financial USA published news for 2022 q1
SEC form 6
2022-04-21 14:36 ET
Heartland Financial USA published news for 2022 q1
SEC form 6
2022-04-21 14:34 ET
Heartland Financial USA published news for 2022 q1
SEC form 6
2022-03-29 09:14 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-03-15 20:23 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-03-09 16:57 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-02-24 17:51 ET
Heartland Financial USA published news for 2021 q4
SEC form 10
2022-02-24 15:18 ET
Heartland Financial USA published news for 2021 q4
SEC form 10
2022-02-24 00:00 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-02-02 16:42 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-02-02 16:37 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-01-31 16:08 ET
Heartland Financial USA published news for 2021 q4
SEC form 8
2022-01-31 00:00 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-01-21 16:09 ET
Heartland Financial USA published news for 2021 q4
SEC form 6
2022-01-21 16:02 ET
Heartland Financial USA published news for 2021 q4
SEC form 10
2021-11-05 13:03 ET
Heartland Financial USA published news for 2021 q3
SEC form 10
2021-11-05 00:00 ET
Heartland Financial USA published news for 2021 q3
SEC form 6
2021-10-29 10:34 ET
Heartland Financial USA published news for 2021 q3
SEC form 6
2021-10-25 16:05 ET
Heartland Financial USA published news for 2021 q3
SEC form 8
2021-10-25 00:00 ET
Heartland Financial USA published news for 2021 q3
SEC form 6
2021-10-21 12:08 ET
Heartland Financial USA published news for 2021 q3
SEC form 6
2021-10-21 12:05 ET
Heartland Financial USA published news for 2021 q3
SEC form 6
2021-09-08 11:45 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-09-02 13:18 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-08-31 21:47 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-08-27 16:17 ET
Heartland Financial USA published news for 2021 q2
SEC form 10
2021-08-05 15:43 ET
Heartland Financial USA published news for 2021 q2
SEC form 10
2021-08-05 00:00 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-07-26 16:03 ET
Heartland Financial USA published news for 2021 q2
SEC form 8
2021-07-26 00:00 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-07-22 13:20 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-07-22 13:18 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-07-08 13:05 ET
Heartland Financial USA published news for 2021 q2
SEC form 6
2021-05-20 15:48 ET
Heartland Financial USA published news for 2021 q1
SEC form 10
2021-05-06 11:54 ET
Heartland Financial USA published news for 2021 q1
SEC form 10
2021-05-06 00:00 ET
Heartland Financial USA published news for 2021 q1
SEC form 6
2021-04-26 16:08 ET
Heartland Financial USA published news for 2021 q1
SEC form 6
2021-04-26 16:07 ET
Heartland Financial USA published news for 2021 q1
SEC form 8
2021-04-26 00:00 ET
Heartland Financial USA published news for 2021 q1
SEC form 6
2021-04-22 12:42 ET
Heartland Financial USA published news for 2021 q1
SEC form 6
2021-04-22 12:38 ET
Heartland Financial USA published news for 2021 q1
SEC form 6
2021-04-14 12:32 ET
Heartland Financial USA published news for 2021 q1
SEC form 6
2021-04-05 12:52 ET
Heartland Financial USA published news for 2021 q1
SEC form 6
2021-03-19 18:11 ET
Heartland Financial USA published news for 2020 q4
SEC form 10
2021-02-25 16:03 ET
Heartland Financial USA published news for 2020 q4
SEC form 6
2021-01-25 16:10 ET
Heartland Financial USA published news for 2020 q4
SEC form 6
2021-01-21 11:38 ET
Heartland Financial USA published news for 2020 q4
SEC form 6
2021-01-21 11:34 ET
Heartland Financial USA published news for 2020 q4
SEC form 6
2020-12-28 11:14 ET
Heartland Financial USA published news for 2020 q3
SEC form 6
2020-12-23 17:15 ET
Heartland Financial USA published news for 2020 q3
SEC form 6
2020-12-14 16:48 ET
Heartland Financial USA published news for 2020 q3
SEC form 6
2020-12-07 09:50 ET
Heartland Financial USA published news for 2020 q3
SEC form 10
2020-11-05 14:41 ET
Heartland Financial USA published news for 2020 q3
SEC form 6
2020-10-26 16:20 ET
Heartland Financial USA published news for 2020 q3
SEC form 6
2020-10-22 16:17 ET
Heartland Financial USA published news for 2020 q3
SEC form 6
2020-10-22 11:05 ET
Heartland Financial USA published news for 2020 q3
SEC form 6
2020-10-22 11:03 ET
Heartland Financial USA published news for 2020 q3