HEARTLAND FINANCIAL USA INC
HTLF, HTLFPFinancials · State Commercial Banks · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | |
|---|---|---|---|---|---|---|
| Revenue | $97.5M | $93.6M | $87.7M | $71.1M | $75.3M | $71.6M |
| Operating income | — | — | — | — | — | — |
| Net income | $52.8M | $43.1M | $219.9M | $137.9M | $149.1M | $117.0M |
| Total assets | $19.41B | $20.24B | $19.27B | $17.91B | $13.21B | $11.41B |
| Total liabilities | $17.48B | $18.51B | $17.09B | $15.83B | $11.63B | $10.08B |
| Equity | $1.93B | $1.74B | $2.18B | $2.08B | $1.58B | $1.33B |
| EPS (diluted) | $1.19 | $0.97 | $5.00 | $3.57 | $4.14 | $3.52 |
| Shares out. | 42.5M | 42.3M | 42.1M | 36.8M | 34.6M | 31.1M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2023- Operating margin
- —
- Net margin
- 54.1%
- Return on equity
- 2.7%
- Return on assets
- 0.3%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 90.0%
- Debt / equity
- 9.04×
- Book value / share
- $45.52
- Revenue growth (YoY)
- 4.2%
- Net income growth (YoY)
- 22.5%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2023- Accruals / assets
- −1.2%clean
- Piotroski F-Score
- 6/7mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 warning● 3 good- High leverage (liabilities > 70% of assets)
- Revenue is growing year-over-year
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Earnest Partners LlcPassive (13G)May 15, 2025
- Dimensional Fund Advisors LpPassive (13G)Apr 15, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Material events
SEC Form 8-K · most recent- Completed an acquisition or disposition · Delisting / listing-standard notice · Modified shareholder rights · Change in control · Director / officer change · Amended charter or bylawsFeb 3, 2025
- Results of operationsJan 28, 2025
- Other material eventJan 10, 2025
- Regulation FD disclosureJan 2, 2025
- Director / officer changeDec 30, 2024
- Results of operationsOct 29, 2024
- Regulation FD disclosureOct 24, 2024
- Director / officer changeAug 9, 2024
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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