Zacks Investment Research upgraded shares of Heartland Financial USA (NASDAQ:HTLF) from a sell rating to a hold rating in a report issued on Thursday.
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 topic of several other reports. Piper Jaffray Companies reaffirmed a buy rating on shares of Heartland Financial USA in a report on Friday, April 6th. BidaskClub raised shares of Heartland Financial USA from a hold rating to a buy rating in a report on Saturday, March 3rd. ValuEngine downgraded shares of Heartland Financial USA from a buy rating to a hold rating in a report on Monday, June 11th. Finally, Stephens initiated coverage on shares of Heartland Financial USA in a report on Thursday, June 14th. They set an equal weight rating on the stock. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Heartland Financial USA presently has an average rating of Hold and a consensus price target of $56.50.
Shares of Heartland Financial USA opened at $56.45 on Thursday, according to Marketbeat.com. Heartland Financial USA has a 1 year low of $42.10 and a 1 year high of $58.05. The firm has a market cap of $1.76 billion, a P/E ratio of 18.82, a PEG ratio of 1.55 and a beta of 0.69. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26.
Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings results on Monday, April 30th. The bank reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.09). Heartland Financial USA had a return on equity of 9.50% and a net margin of 16.60%. The firm had revenue of $116.30 million for the quarter, compared to analysts’ expectations of $116.17 million. During the same period last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 17.6% on a year-over-year basis. research analysts anticipate that Heartland Financial USA will post 3.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Thursday, May 17th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, May 16th. Heartland Financial USA’s payout ratio is 17.33%.
In other news, EVP Kelly J. Johnson sold 2,026 shares of the stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $53.05, for a total value of $107,479.30. Following the completion of the sale, the executive vice president now directly owns 6,038 shares in the company, valued at $320,315.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kurt Saylor sold 10,000 shares of the stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $52.35, for a total transaction of $523,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,026 shares of company stock worth $1,754,979. Insiders own 6.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mosaic Family Wealth LLC acquired a new stake in shares of Heartland Financial USA in the fourth quarter valued at about $182,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Heartland Financial USA in the fourth quarter valued at about $222,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Heartland Financial USA in the fourth quarter valued at about $241,000. Barclays PLC raised its position in shares of Heartland Financial USA by 29.9% in the first quarter. Barclays PLC now owns 5,194 shares of the bank’s stock valued at $276,000 after buying an additional 1,197 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Heartland Financial USA by 24.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,533 shares of the bank’s stock valued at $297,000 after buying an additional 1,104 shares during the last quarter. Institutional investors and hedge funds own 55.72% of the company’s stock.
About Heartland Financial USA
Heartland Financial USA, Inc, a multi-bank holding company, provides commercial, small business, and consumer banking services to individuals and businesses in the United States. It accepts various deposit products, including checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, health savings accounts, and other time deposits.
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