In a recent transaction, Robert B. Engel, a director at Heartland Financial USA Inc. (NASDAQ:HTLF), sold a significant amount of depositary shares. On May 7, 2024, Engel sold 7,600 depositary shares at an average price of $25.2608, amounting to a total of approximately $192,000.
The sold shares are part of a series of depositary shares, each representing a 1/400th interest in a share of 7.00% Fixed-Rate Reset NonCumulative Perpetual Preferred Stock, Series E, with a par value of $1.00 per share. According to the filing, these shares were sold in multiple transactions at prices ranging from $25.21 to $25.30.
Following the sale, Engel still holds a substantial number of shares in the company. The remaining holding includes 17,000 depositary shares and 14,883.0929 shares of common stock, all of which are directly owned.
Investors often monitor the buying and selling activity of company insiders as it can provide insight into their perspective on the company's current valuation and future prospects. The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission.
Heartland Financial USA Inc. is a diversified financial services company based in Denver, Colorado. The company operates through several bank subsidiaries, providing banking, mortgage, private client, investment, treasury management, card services, and insurance in markets across the United States.
InvestingPro Insights
Heartland Financial USA Inc. (NASDAQ:HTLF) has been a notable player in the financial sector, and recent movements in its stock reflect the company's performance and market expectations. With a market capitalization of $1.87 billion and a P/E ratio that has adjusted down to 22.26 in the last twelve months as of Q1 2024, investors are paying attention to the company's valuation metrics.
One of the InvestingPro Tips for HTLF highlights that the company has maintained dividend payments for an impressive 29 consecutive years, showcasing a solid commitment to returning value to shareholders. Additionally, the company's net income is expected to grow this year, which is a positive sign for potential investors looking for growth opportunities. For those interested in further insights, there are 11 additional tips available on InvestingPro, which can be accessed with a special offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
From the real-time data provided by InvestingPro, HTLF's revenue growth appears to have faced a contraction of -22.65% in the last twelve months as of Q1 2024. Despite this, the company's shares have experienced a high return over the last year, with a 55.99% price total return, and are currently trading near their 52-week high, at 98.07% of the peak price. Moreover, the dividend yield stands at 2.75%, which may be attractive to income-focused investors.
As Engel's recent sale of depositary shares captures the attention of the market, these InvestingPro metrics and tips provide a broader context for Heartland Financial USA Inc.'s financial health and stock performance, offering valuable insights for investors considering the company's prospects.
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