Heartland Bank (HBT)
Runs Heartland Bank across Illinois, eastern Iowa, and suburban St. Louis.
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Operates Heartland Bank, providing deposits, loans, digital banking, wealth management, and mortgage services. Its business is concentrated in local Midwestern markets, with acquisition integration, deposit competition, credit quality, interest rates, and regulation shaping performance.
Runs Heartland Bank and Trust Company as a community-bank holding company serving consumers, businesses, and municipal entities. Core products span deposits, commercial and residential lending, digital banking, wealth management, farm-management services, and mortgage origination and servicing.
The footprint is concentrated in Illinois, eastern Iowa, and suburban St. Louis, anchored by long-standing central Illinois roots and expanded through community-bank acquisitions. Management emphasizes relationship-based banking in mid-sized markets, low-cost deposit stability, prudent underwriting, and a centralized credit process.
The business reports a single segment, so performance depends on local deposit gathering, disciplined loan growth, acquisition integration, credit quality, interest rates, cybersecurity, vendors, and bank regulation.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | Hovde Group | Reiterate | Rating: —Target: — | Target: $44 |
| Aug 11, 2026 | DA Davidson | Reiterate | Rating: —Target: $27 | Target: $38 |
| Apr 28, 2026 | Piper Sandler | Reiterate | Rating: —Target: $27.50 | Target: $32 |
| Jan 7, 2026 | Raymond James | Upgrade | Target: $23 | Target: $30 |
| Oct 21, 2025 | Piper Sandler | Reiterate | Rating: —Target: $24 | Target: $27.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.67B · Total debt $149.3M · Total assets $6.73B · Shareholders' equity $764.7M
- Revenue
- $100.4M
- Operating income
- $37.8M
- Net income
- $27.8M
HistoryDividendAnnual yield
| Institutions | ≈ 26.06% | 9.48M shares | |
|---|---|---|---|
| 131 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 54.24% | 19.73M shares | |
| 15 holders · as of Aug 19, 2026 | |||
| Other | ≈ 19.70% | 7.17M shares | |
| remainder | |||
36.38M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Fred L. Drake1Insiderdirector, 10 percent owner, officer: Executive Chairman | 47.32% | 17.28M | filed Apr 30, 2026 |
BlackRock, Inc.Institution | 5.44% | 1.98M | as of Jun 30, 2026 |
Allen C. DrakeInsiderdirector | 3.77% | 1.37M | filed May 29, 2025 |
Vanguard Capital Management LLCInstitution | 2.00% | 726,752 | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 1.62% | 588,886 | as of Jun 30, 2026 |
- Fred L. Drake's transaction reports restate only vehicles that traded; the 2025 ownership statement (17.28M) less the 59.2K net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 28, 2026 | Fred L. Drake | director, 10 percent owner, officer: Executive Chairman | −15,742 | $28.93 |
| Mar 16, 2026 | Patrick F. Busch | director | −15,000 | $26.48 |
| Mar 16, 2026 | Lawrence J. Horvath | officer: EVP & Chief Lending Officer | −5,000 | $26.60 |
| Mar 10, 2026 | Eric E. Burwell | director | +4,000 | $26.24 |
| Feb 20, 2026 | Fred L. Drake | director, 10 percent owner, officer: Executive Chairman | −2,258 | $28.60 |
- First Mid Bancshares
Broad overlap in Illinois, Iowa, Missouri banking, ag and wealth
- First Busey
Central Illinois and St. Louis scale across banking, wealth and mortgage
- QCR
Eastern Iowa and Quad Cities overlap in banking, deposits and wealth
- Midland States Bancorp
Illinois and St. Louis community-bank peer with wealth and trust overlap
- Old Second Bancorp
Northern Illinois community bank competing in deposits, loans and wealth
- Wintrust Financial
Greater Chicago community-bank scale in banking, mortgage and wealth
- Enterprise Financial Services
St. Louis-based bank competing in business banking and wealth
- Old National Bancorp
Large Midwest bank pressuring deposits, commercial banking and wealth
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Heartland Bank | $35.42 | 0.00% | $1.30B | 15.3 | 11.0 | 3.9 | +37.6% |
| First Mid Bancshares | $49.21 | 0.00% | $1.32B | 12.3 | 10.3 | 2.9 | +26.7% |
| First Busey | $29.71 | −0.03% | $2.53B | 10.8 | 11.2 | 2.7 | −1.9% |
| QCR | $99.36 | −0.06% | $1.64B | 11.7 | 11.7 | 2.7 | +19.0% |
| Midland States Bancorp | $32.70 | −0.55% | $696.2M | 21.0 | 9.7 | 1.6 | −29.1% |
| Old Second Bancorp | $24.65 | +0.04% | $1.28B | 14.3 | 10.6 | 3.0 | +28.6% |
| Wintrust Financial | $144.70 | +0.02% | $9.92B | 11.7 | 10.9 | 2.3 | +10.1% |
| Enterprise Financial Services | $60.39 | −0.07% | $2.21B | 12.1 | 10.7 | 2.2 | +30.9% |
| Old National Bancorp | $25.03 | +0.02% | $9.66B | 11.1 | 9.2 | 2.4 | +12.3% |
| Median | 11.9 | 10.6 | 2.5 | +15.7% |