Kathryn G. Unger, a director at Heartland Financial USA Inc (NASDAQ:HTLF), has sold 2,450 shares of the company's common stock, resulting in a total transaction value of $111,693. The shares were sold at a weighted average price ranging from $45.55 to $45.60, as detailed in a recent regulatory filing.
The transaction occurred on May 21, 2024, and post-sale, Unger retains 1,396 shares of Heartland Financial's common stock. The sale represents a significant transaction for Unger, who is listed as a director in the company's filings.
In addition to the sale of common stock, the filing also reported a derivative transaction involving the acquisition of 3,534 time-based restricted stock units (RSUs) under the company's 2024 Long-term Incentive Plan. These units are subject to a one-year vesting schedule and each unit represents a contingent right to receive one share of Heartland Financial's common stock.
Investors often monitor insider transactions such as these for insights into the perspectives of company executives and directors regarding the stock's potential value. While the reasons for Unger's stock sale were not disclosed, the transaction provides current shareholders and potential investors with up-to-date information on insider activity.
The transactions were reported in a Form 4 document filed with the Securities and Exchange Commission on May 23, 2024, with Janet Emerson (NYSE:EMR) signing as attorney-in-fact for Kathryn G. Unger.
InvestingPro Insights
As Heartland Financial USA Inc (NASDAQ:HTLF) navigates through the financial year, real-time metrics and expert analysis from InvestingPro offer a comprehensive view of the company's performance. According to recent data, Heartland Financial boasts a market capitalization of $1.86 billion, reflecting the company's standing in the financial sector. The company's P/E ratio, a key indicator of its valuation, stands at 22.24 when adjusted for the last twelve months as of Q1 2024, suggesting a valuation that investors may find attractive relative to earnings.
InvestingPro Tips highlight several aspects of Heartland Financial's financial health and investor appeal. Notably, the company has a commendable track record of raising its dividend for 9 consecutive years and has maintained dividend payments for an impressive 29 consecutive years. This consistency signals a strong commitment to shareholder returns. Furthermore, analysts predict that the company will be profitable this year, with net income expected to grow, and the company has been profitable over the last twelve months.
When it comes to stock performance, Heartland Financial has seen a high return over the last year, with a 57.94% price total return, and strong returns over the last month and three months, at 24.66% and 34.76%, respectively. This positive momentum is further underscored by a large price uptick over the last six months, indicating robust investor confidence.
For those seeking more in-depth analysis and additional InvestingPro Tips, which currently number 10 for Heartland Financial, can visit https://www.investing.com/pro/HTLF. Readers looking to gain access to these valuable insights can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with premium resources.
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