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Heartland Financial (HTLF) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Heartland Financial (HTLF - Free Report) reported revenue of $179.63 million, up 1.5% over the same period last year. EPS came in at $1.14, compared to $1.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $181.53 million, representing a surprise of -1.05%. The company delivered an EPS surprise of -0.87%, with the consensus EPS estimate being $1.15.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Heartland Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 60.93% versus the two-analyst average estimate of 59.34%.
Net Interest Margin: 3.19% compared to the 3.31% average estimate based on two analysts.
Average Balance - Total interest earning assets: $18.52 billion compared to the $18.54 billion average estimate based on two analysts.
Net charge-offs to average loans: 0.32% versus 0.17% estimated by two analysts on average.
Net Interest Income (FTE): $149.45 million compared to the $153.11 million average estimate based on two analysts.
Trust fees: $5.42 million versus the two-analyst average estimate of $5.72 million.
Net gains on sale of loans held for sale: $1.05 million versus the two-analyst average estimate of $1.40 million.
Loan servicing income: $0.41 million versus the two-analyst average estimate of $0.71 million.
Service charges and fees net: $19.63 million compared to the $17.27 million average estimate based on two analysts.
Income on bank owned life insurance: $1.22 million compared to the $0.98 million average estimate based on two analysts.
Brokerage and insurance commissions: $0.68 million versus $0.70 million estimated by two analysts on average.
Total Non Interest Income: $32.49 million versus $30.26 million estimated by two analysts on average.
Shares of Heartland Financial have returned +22.7% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Heartland Financial (HTLF) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Heartland Financial (HTLF - Free Report) reported revenue of $179.63 million, up 1.5% over the same period last year. EPS came in at $1.14, compared to $1.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $181.53 million, representing a surprise of -1.05%. The company delivered an EPS surprise of -0.87%, with the consensus EPS estimate being $1.15.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Heartland Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 60.93% versus the two-analyst average estimate of 59.34%.
- Net Interest Margin: 3.19% compared to the 3.31% average estimate based on two analysts.
- Average Balance - Total interest earning assets: $18.52 billion compared to the $18.54 billion average estimate based on two analysts.
- Net charge-offs to average loans: 0.32% versus 0.17% estimated by two analysts on average.
- Net Interest Income (FTE): $149.45 million compared to the $153.11 million average estimate based on two analysts.
- Trust fees: $5.42 million versus the two-analyst average estimate of $5.72 million.
- Net gains on sale of loans held for sale: $1.05 million versus the two-analyst average estimate of $1.40 million.
- Loan servicing income: $0.41 million versus the two-analyst average estimate of $0.71 million.
- Service charges and fees net: $19.63 million compared to the $17.27 million average estimate based on two analysts.
- Income on bank owned life insurance: $1.22 million compared to the $0.98 million average estimate based on two analysts.
- Brokerage and insurance commissions: $0.68 million versus $0.70 million estimated by two analysts on average.
- Total Non Interest Income: $32.49 million versus $30.26 million estimated by two analysts on average.
View all Key Company Metrics for Heartland Financial here>>>Shares of Heartland Financial have returned +22.7% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.