Zacks Investment Research upgraded shares of Heartland Financial USA (NASDAQ:HTLF) from a hold rating to a buy rating in a research note published on Wednesday, April 4th. The firm currently has $58.00 price objective on the bank’s stock.
According to Zacks, “Heartland Financial USA, Inc. is a multi-bank holding company operating through bank subsidiaries in the states of Iowa, Wisconsin, Illinois and New Mexico and a federal savings bank subsidiary in Iowa. The Bank Subsidiaries provide full-service retail banking. Deposit products include checking and other demand deposit accounts, savings accounts, money market accounts, individual retirement accounts and other time deposits. Loans include commercial and industrial, agricultural, real estate mortgage, consumer, home equity, credit cards and lines of credit. “
HTLF has been the subject of several other reports. ValuEngine raised Heartland Financial USA from a hold rating to a buy rating in a research report on Friday, February 2nd. BidaskClub cut Heartland Financial USA from a buy rating to a hold rating in a research report on Thursday, January 25th. Piper Jaffray restated a buy rating and issued a $57.00 price objective on shares of Heartland Financial USA in a research note on Thursday, December 14th. UBS lowered Heartland Financial USA from a strong-buy rating to an outperform rating in a research note on Tuesday, January 9th. Finally, B. Riley reiterated a hold rating and set a $59.00 target price on shares of Heartland Financial USA in a research note on Tuesday, January 30th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Heartland Financial USA has a consensus rating of Buy and a consensus price target of $56.50.
NASDAQ HTLF traded up $0.70 on Wednesday, reaching $53.55. The company had a trading volume of 17,629 shares, compared to its average volume of 130,782. Heartland Financial USA has a 52 week low of $42.10 and a 52 week high of $56.40. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1,635.74, a PE ratio of 17.49, a P/E/G ratio of 1.37 and a beta of 0.70.
Heartland Financial USA (NASDAQ:HTLF) last posted its earnings results on Monday, January 29th. The bank reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $118.38 million during the quarter, compared to analysts’ expectations of $116.31 million. Heartland Financial USA had a return on equity of 9.64% and a net margin of 16.16%. During the same period in the previous year, the firm earned $0.74 earnings per share. sell-side analysts predict that Heartland Financial USA will post 3.84 earnings per share for the current fiscal year.
In related news, Director Kurt Saylor sold 22,500 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $53.32, for a total transaction of $1,199,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelly J. Johnson sold 2,026 shares of the firm’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $53.05, for a total value of $107,479.30. Following the sale, the executive vice president now directly owns 6,038 shares in the company, valued at approximately $320,315.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,026 shares of company stock worth $5,514,379. Company insiders own 9.00% of the company’s stock.
A number of large investors have recently made changes to their positions in HTLF. Mosaic Family Wealth LLC bought a new position in shares of Heartland Financial USA in the 4th quarter worth about $182,000. Eqis Capital Management Inc. bought a new stake in Heartland Financial USA in the 4th quarter valued at about $216,000. Ladenburg Thalmann Financial Services Inc. increased its position in Heartland Financial USA by 41.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,429 shares of the bank’s stock valued at $220,000 after buying an additional 1,288 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in Heartland Financial USA in the 4th quarter valued at about $222,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Heartland Financial USA in the 4th quarter valued at about $241,000. 52.48% of the stock is owned by institutional investors and hedge funds.
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Heartland Financial USA Company Profile
Heartland Financial USA, Inc (Heartland) is a diversified financial services company engaged in providing banking, mortgage, private client, investment, treasury management, card services, insurance, and consumer finance services to individuals and businesses. Its segments include community and other banking, and retail mortgage banking.
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