Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Heartland Financial USA (HTLF)
NASDAQ:HTLF
RESEARCH TOOLSreports
Holding HTLF?
Track your performance easily
Earnings Data
Report Date
Feb 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.06Last Year’s EPS
$1.06Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 8.29%
|Next Earnings Date:Feb 03, 2025
Earnings Call Sentiment|Neutral
HTLF's earnings call highlighted significant strategic repositioning with improvements in net interest income, margin growth, and customer deposit growth, despite reporting a quarterly loss due to repositioning efforts and an increase in nonperforming assets. The strategic initiatives under HTLF 3.0 are poised to drive future growth, though current challenges in asset quality and consumer loans remain.Company Guidance
During the HTLF earnings call for the fourth quarter of 2023, the company's management provided detailed guidance and metrics that highlight their strategic initiatives and financial performance. HTLF's board approved a quarterly cash dividend of $0.30 per share on common stock, and a dividend of $175 for Series E preferred stock, translating to $0.4375 per depository share. The company's tangible book value per common share increased by 19% from 2022, reaching $28.77. They reported a $72.4 million loss for the quarter, primarily due to a $140 million pre-tax loss from selling investment securities worth $865 million to repay high-cost deposits and borrowings. Despite this, adjusted earnings for the quarter were $45.6 million, with an EPS of $1.06, excluding losses from balance sheet repositioning and other expenses. The net interest margin rose by 34 basis points to 3.52%, with net interest income up to $156 million for the quarter. The company saw a 2% growth in commercial and ag loans in Q4, totaling $224 million, and customer deposits grew by $59 million, marking the second consecutive quarter of growth. Nonperforming assets increased to 57 basis points, although net charge-offs and delinquencies remained low. The company expects loan growth of 6-8% in 2024, with deposit growth of 5-7%, and aims to maintain a stable net interest margin around 3.5%, despite potential economic challenges.Dividend Increase and Stockholder Benefits
HTLF's Board of Directors approved a quarterly cash dividend of $0.30 per share on common stock and $175 for Series E preferred stock. The tangible book value per common share increased by 19% to $28.77 from 2022.
Balance Sheet Repositioning
HTLF sold investment securities with proceeds totaling $865 million, resulting in a pretax loss of $140 million. The proceeds were used to repay high-cost wholesale deposits and short-term borrowings, improving net interest margin and capital position.
Net Interest Income and Margin Growth
Net interest income for Q4 was $156 million, a 7% increase from the previous quarter. The net interest margin rose by 34 basis points to 3.52%.
Commercial Loan Growth
In Q4, commercial and agricultural loans grew by $224 million or 2%. For the year, these loans grew by $719 million or 7%.
Customer Deposit Growth
Customer deposits increased by $59 million from the previous quarter, marking the second consecutive quarter of growth. Average customer deposits rose by $271 million or 2%.
Credit Quality and Low Delinquencies
The delinquency ratio decreased to 9 basis points, the lowest in 2023, and net charge-offs were minimal at $392,000 or 1 basis point of total average loans.
---
HTLF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
HTLF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $57.54 | $60.06 | +4.38% |
| Jul 30, 2024 | $52.75 | $53.96 | +2.29% |
| Apr 29, 2024 | $35.11 | $40.42 | +15.12% |
| Jan 29, 2024 | $37.37 | $37.66 | +0.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Heartland Financial USA (HTLF) report earnings?
Heartland Financial USA (HTLF) is schdueled to report earning on Feb 03, 2025, TBA Not Confirmed.
What is Heartland Financial USA (HTLF) earnings time?
Heartland Financial USA (HTLF) earnings time is at Feb 03, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HTLF EPS forecast?
HTLF EPS forecast for the fiscal quarter 2024 (Q4) is $1.06.
---