OTCPK:HLAN

Stock Analysis Report

Executive Summary

Heartland BancCorp operates as the holding company for Heartland Bank that provides various banking products and services to individual and corporate customers in Franklin, Fairfield, and Licking counties of central Ohio.


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Heartland BancCorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HLAN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.8%

HLAN

-3.4%

US Banks

-4.2%

US Market


1 Year Return

13.3%

HLAN

6.9%

US Banks

14.0%

US Market

Return vs Industry: HLAN exceeded the US Banks industry which returned 6.9% over the past year.

Return vs Market: HLAN matched the US Market which returned 14% over the past year.


Shareholder returns

HLANIndustryMarket
7 Day-1.8%-3.4%-4.2%
30 Dayn/a-2.8%-1.8%
90 Day-6.0%-4.1%2.6%
1 Year16.1%13.3%10.0%6.9%16.3%14.0%
3 Year37.9%28.8%19.6%11.0%43.2%34.0%
5 Year155.9%125.2%66.5%47.6%65.9%47.6%

Price Volatility Vs. Market

How volatile is Heartland BancCorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Heartland BancCorp undervalued compared to its fair value and its price relative to the market?

22.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HLAN ($94) is trading below our estimate of fair value ($121.18)

Significantly Below Fair Value: HLAN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: HLAN is poor value based on its PE Ratio (14.4x) compared to the Banks industry average (12.4x).

PE vs Market: HLAN is good value based on its PE Ratio (14.4x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: HLAN is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: HLAN is overvalued based on its PB Ratio (1.5x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Heartland BancCorp forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

17.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HLAN's forecast earnings growth (17.6% per year) is above the savings rate (1.7%).

Earnings vs Market: HLAN's earnings (17.6% per year) are forecast to grow faster than the US market (13.1% per year).

High Growth Earnings: HLAN's earnings are forecast to grow, but not significantly.

Revenue vs Market: HLAN's revenue (17.1% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: HLAN's revenue (17.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HLAN's Return on Equity is forecast to be low in 3 years time (12.5%).


Next Steps

Past Performance

How has Heartland BancCorp performed over the past 5 years?

14.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HLAN has high quality earnings.

Growing Profit Margin: HLAN's current net profit margins (28.2%) are lower than last year (28.7%).


Past Earnings Growth Analysis

Earnings Trend: HLAN's earnings have grown by 14.1% per year over the past 5 years.

Accelerating Growth: HLAN's earnings growth over the past year (15.6%) exceeds its 5-year average (14.1% per year).

Earnings vs Industry: HLAN earnings growth over the past year (15.6%) exceeded the Banks industry 12%.


Return on Equity

High ROE: HLAN's Return on Equity (10.3%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Heartland BancCorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: HLAN has a low level of unsold assets or inventory.

Debt Coverage by Assets: HLAN's debt is not covered by short term assets (assets are 0.8x debt).


Financial Institutions Analysis

Asset Level: HLAN's level of assets compared to its equity is low.

Allowance for Bad Loans: HLAN has a sufficient allowance for bad loans.

Low Risk Liabilities: HLAN's liabilities are made up of primarily low risk sources of funding.

Loan Level: HLAN has an acceptable proportion of non-loan assets held.

Low Risk Deposits: HLAN's loans are broadly funded by customer deposits.

Level of Bad Loans: HLAN has an appropriate level of bad loans (0.26%)


Next Steps

Dividend

What is Heartland BancCorp's current dividend yield, its reliability and sustainability?

2.43%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Heartland BancCorp before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company2.4%marketbottom25%1.5%markettop25%3.8%industryaverage3.0%forecastin3Years2.3%

Current dividend yield vs market & industry

Notable Dividend: HLAN's dividend (2.43%) is higher than the bottom 25% of dividend payers in the US market (1.48%).

High Dividend: HLAN's dividend (2.43%) is low compared to the top 25% of dividend payers in the US market (3.77%).


Stability and Growth of Payments

Stable Dividend: HLAN's dividends per share have been stable in the past 10 years.

Growing Dividend: HLAN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.8%), HLAN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HLAN's dividends in 3 years are forecast to be well covered by earnings (25.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.9yrs

Average management tenure


CEO

Gregory McComb 0

7.8yrs

Tenure

0

Mr. Gregory Scott McComb has been the Chairman of Heartland BancCorp., since April 2012 and serves as its Chief Executive Officer and President. Mr. McComb serves as the Chairman, President and Chief Execu ...


Leadership Team

NamePositionTenureCompensationOwnership
Gregory McComb
Chairman7.8yrsno datano data
Jay Eggspuehler
Vice Chairman of the Board7.8yrsno datano data
Brian Mauntel
President & COO0.8yrsno datano data
Carrie Almendinger
Executive VP4.9yrsno datano data
Jennifer Eckert
Investor Relations Contact0yrsno datano data
Jodi Garrison
Secretary & Director15.9yrsno datano data

4.9yrs

Average Tenure

Experienced Management: HLAN's management team is considered experienced (4.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gregory McComb
Chairman7.8yrsno datano data
Jay Eggspuehler
Vice Chairman of the Board7.8yrsno datano data
Jodi Garrison
Secretary & Director15.9yrsno datano data
George Smith
Director5.1yrsno datano data
William Dodson
Director11.1yrsno datano data
Robert Overs
Director8.1yrsno datano data
Gary Paine
Director8.1yrsno datano data
Richard Vincent
Director8.1yrsno datano data
William Schottenstein
Director5.8yrsno datano data
Beverly Donaldson
Director4.1yrsno datano data

8.0yrs

Average Tenure

Experienced Board: HLAN's board of directors are considered experienced (8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 20.4%.


Top Shareholders

Company Information

Heartland BancCorp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Heartland BancCorp
  • Ticker: HLAN
  • Exchange: OTCPK
  • Founded: 1911
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$191.445m
  • Shares outstanding: 2.02m
  • Website: https://www.heartland.bank

Number of Employees


Location

  • Heartland BancCorp
  • 430 North Hamilton Road
  • Whitehall
  • Ohio
  • 43213
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HLANOTCPK (Pink Sheets LLC)YesCommon StockUSUSDOct 1995

Biography

Heartland BancCorp operates as the holding company for Heartland Bank that provides various banking products and services to individual and corporate customers in Franklin, Fairfield, and Licking counties of central Ohio. The company offers commercial, small business, and consumer banking services. Its deposit products include checking, savings, money market, and individual retirement accounts, as well as certificates of deposit. The company’s loan portfolio comprises home mortgage loans; personal loans, such as vehicle loans, home equity loans, and personal unsecured loans; and commercial real estate and construction loans, small business loans, and working capital loans and equipment financing. It also offers credit and debit cards, wire transfers, night depository, safe deposit boxes, cashier's checks, notary services, overdraft protection, retirement and education planning, wealth management, mobile wallet, and online banking services, as well as insurance products and services. In addition, the company provides agribusiness lending solutions; alternative investment services; and insurance services comprising life insurance, long-term care insurance, and disability insurance. As of July 16, 2019, it operated 16 full-service banking offices. The company was founded in 1911 and is based in Whitehall, Ohio. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 00:26
End of Day Share Price2020/02/24 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.