🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Heartland financial director John Schmidt sells $1.54 million in stock

Published 11/14/2024, 06:42 AM
HTLF
-

John K. Schmidt, a director at Heartland Financial USA Inc. (NASDAQ:HTLF), has sold 22,500 shares of the company's common stock. The shares were sold on November 11, 2024, at a weighted average price of $68.32, resulting in a total transaction value of approximately $1.54 million. Following this sale, Schmidt retains direct ownership of 60,541 shares. Additionally, a separate transaction on November 13, 2024, involved the disposition of 3,500 shares, which were transferred without a financial exchange. After these transactions, Schmidt holds various shares through indirect ownership, including 39,670 shares held by his spouse and 4,780 shares in a 401(k) plan.

In other recent news, Heartland Financial's earnings per share (EPS) estimate for 2024 has been revised upward to $4.65 from $4.60, following the third quarter results, as reported by DA Davidson. The financial services firm also increased the price target for Heartland Financial shares to $60.00, maintaining a neutral rating. However, the EPS estimate for 2025 remains steady at $4.20.

In parallel, a surge in regional bank mergers has been observed, largely due to sector challenges such as high interest rates and increased competition. Analysts from LSEG and Gabelli Funds project that more than half of the banks in the KBW Regional Banking Index could be acquired within the next year.

In related developments, Heartland Financial has seen significant changes with director Paul Taylor stepping down, citing personal reasons. In more strategic news, shareholders have overwhelmingly approved the company's planned merger with UMB Financial (NASDAQ:UMBF) Corporation, a move that marks a significant step in the consolidation trend within the regional banking sector. These recent developments are crucial in shaping the future of Heartland Financial.

InvestingPro Insights

The recent insider sale by John K. Schmidt at Heartland Financial USA Inc. (NASDAQ:HTLF) comes at a time when the company's stock has shown remarkable performance. According to InvestingPro data, HTLF has delivered a strong return of 141.74% over the past year, with a particularly impressive 51.67% gain in the last six months. This robust performance aligns with an InvestingPro Tip indicating that the company has maintained dividend payments for 29 consecutive years, showcasing financial stability.

However, investors should note that HTLF is currently trading at a high earnings multiple, with a P/E ratio of 37. This valuation metric suggests that the stock may be priced at a premium compared to its earnings, which could be a factor in Schmidt's decision to sell a portion of his holdings.

Despite the high valuation, another InvestingPro Tip reveals that net income is expected to grow this year, potentially justifying the current stock price. The company's financial health is further underscored by its profitability over the last twelve months and analysts' predictions of continued profitability this year.

For readers interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for HTLF, providing a deeper understanding of the company's financial position and market outlook.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.