Heartland Financial: 1Q Earnings Snapshot
DUBUQUE, Iowa (AP) _ Heartland Financial USA Inc. (HTLF) on Monday reported first-quarter earnings of $20 million.
The Dubuque, Iowa-based bank said it had earnings of 54 cents per share. Earnings, adjusted for non-recurring costs, came to $1.03 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The multibank holding company posted revenue of $156.9 million in the period. Its revenue net of interest expense was $138.3 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $138.5 million.
Heartland Financial shares have decreased 35% since the beginning of the year. In the final minutes of trading on Monday, shares hit $32.25, a decline of 30% in the last 12 months.