Heartland Financial USA Inc. (HTLF) Downgraded to Hold at Zacks Investment Research
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. “
Several other analysts also recently weighed in on HTLF. DA Davidson lifted their target price on shares of Heartland Financial USA from $42.00 to $43.00 and gave the company a buy rating in a report on Tuesday, July 26th. Sandler O’Neill downgraded shares of Heartland Financial USA from a buy rating to a hold rating in a report on Tuesday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Heartland Financial USA from $35.00 to $37.00 and gave the stock a market perform rating in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $37.50.
Shares of Heartland Financial USA (NASDAQ:HTLF) opened at 35.66 on Wednesday. Heartland Financial USA has a one year low of $25.95 and a one year high of $39.45. The stock’s 50 day moving average is $36.12 and its 200-day moving average is $34.42. The stock has a market capitalization of $875.27 million, a price-to-earnings ratio of 11.72 and a beta of 0.70.
Heartland Financial USA (NASDAQ:HTLF) last issued its earnings results on Monday, July 25th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.08. The business had revenue of $104.14 million for the quarter, compared to the consensus estimate of $103 million. Heartland Financial USA had a net margin of 17.14% and a return on equity of 11.50%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities research analysts predict that Heartland Financial USA will post $3.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, August 17th. Heartland Financial USA’s payout ratio is currently 13.25%.
In other Heartland Financial USA news, Director Kurt Saylor sold 14,500 shares of Heartland Financial USA stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $35.25, for a total transaction of $511,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.63% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Heartland Financial USA by 8.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 84,577 shares of the company’s stock worth $2,985,000 after buying an additional 6,294 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Heartland Financial USA by 105.4% in the second quarter. American Century Companies Inc. now owns 104,590 shares of the company’s stock worth $3,691,000 after buying an additional 53,660 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Heartland Financial USA by 7.3% in the second quarter. Legal & General Group Plc now owns 3,024 shares of the company’s stock worth $104,000 after buying an additional 206 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Heartland Financial USA by 24.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 16,236 shares of the company’s stock worth $573,000 after buying an additional 3,162 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Heartland Financial USA by 21.6% in the second quarter. AQR Capital Management LLC now owns 61,577 shares of the company’s stock worth $2,173,000 after buying an additional 10,933 shares during the last quarter. Institutional investors own 41.20% of the company’s stock.
Heartland Financial USA Company Profile
Heartland Financial USA, Inc (Heartland) is a multi-bank holding company. The Company’s segments include community and other banking, and retail mortgage banking. Its community and other banking segment is engaged in making loans to, and generating deposits from, individuals and businesses in the markets where Heartland has banks.
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