Earnest Partners LLC Reduces Position in Heartland Financial USA Inc (HTLF)

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Earnest Partners LLC lessened its stake in shares of Heartland Financial USA Inc (NASDAQ:HTLF) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,141,582 shares of the bank’s stock after selling 11,843 shares during the period. Earnest Partners LLC owned 3.31% of Heartland Financial USA worth $62,616,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. lifted its position in shares of Heartland Financial USA by 138.6% during the 2nd quarter. Atwood & Palmer Inc. now owns 2,625 shares of the bank’s stock valued at $144,000 after acquiring an additional 1,525 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Heartland Financial USA during the 2nd quarter valued at $207,000. Amalgamated Bank acquired a new position in shares of Heartland Financial USA during the 2nd quarter valued at $219,000. BlueMountain Capital Management LLC lifted its position in shares of Heartland Financial USA by 32.1% during the 2nd quarter. BlueMountain Capital Management LLC now owns 4,246 shares of the bank’s stock valued at $233,000 after acquiring an additional 1,032 shares during the period. Finally, Barclays PLC lifted its position in shares of Heartland Financial USA by 29.9% during the 1st quarter. Barclays PLC now owns 5,194 shares of the bank’s stock valued at $276,000 after acquiring an additional 1,197 shares during the period. Institutional investors own 52.24% of the company’s stock.

In other Heartland Financial USA news, EVP Andrew E. Townsend sold 1,500 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $60.65, for a total transaction of $90,975.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Martin J. Schmitz sold 2,802 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $60.00, for a total transaction of $168,120.00. Following the transaction, the director now owns 68,637 shares in the company, valued at approximately $4,118,220. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,833 shares of company stock worth $1,072,955. Corporate insiders own 6.60% of the company’s stock.

HTLF opened at $60.80 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.80 and a current ratio of 0.80. Heartland Financial USA Inc has a 1-year low of $42.10 and a 1-year high of $61.95. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.69 and a beta of 0.73.

Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings data on Monday, July 23rd. The bank reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.05). Heartland Financial USA had a return on equity of 9.06% and a net margin of 16.67%. The business had revenue of $129.04 million for the quarter, compared to analyst estimates of $129.51 million. During the same quarter in the previous year, the company posted $0.81 EPS. equities research analysts anticipate that Heartland Financial USA Inc will post 3.6 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 10th were issued a dividend of $0.14 per share. This is an increase from Heartland Financial USA’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 9th. This represents a $0.56 annualized dividend and a yield of 0.92%. Heartland Financial USA’s dividend payout ratio is presently 18.67%.

HTLF has been the topic of a number of research reports. BidaskClub upgraded shares of Heartland Financial USA from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. ValuEngine downgraded shares of Heartland Financial USA from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Raymond James downgraded shares of Heartland Financial USA from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded shares of Heartland Financial USA from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Finally, Stephens started 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 given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $56.50.

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.

Further Reading: Outstanding Shares

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Institutional Ownership by Quarter for Heartland Financial USA (NASDAQ:HTLF)

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