Zacks Investment Research upgraded shares of Heartland Financial USA (NASDAQ:HTLF) from a hold rating to a buy rating in a research note released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $52.00 target price 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. “
Separately, Keefe, Bruyette & Woods raised Heartland Financial USA from a market perform rating to an outperform rating and set a $60.00 price objective for the company in a research report on Tuesday, September 7th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Heartland Financial USA currently has an average rating of Buy and a consensus target price of $50.00.
Heartland Financial USA (NASDAQ:HTLF) last posted its quarterly earnings results on Sunday, July 25th. The bank reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.13. The firm had revenue of $174.38 million during the quarter, compared to the consensus estimate of $174.56 million. Heartland Financial USA had a return on equity of 10.65% and a net margin of 28.82%. On average, equities research analysts anticipate that Heartland Financial USA will post 5.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 30th. Stockholders of record on Monday, August 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Heartland Financial USA’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, August 13th. Heartland Financial USA’s dividend payout ratio (DPR) is presently 27.10%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in Heartland Financial USA by 8.0% during the 1st quarter. First Trust Advisors LP now owns 123,546 shares of the bank’s stock worth $5,269,000 after purchasing an additional 9,193 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Heartland Financial USA during the 1st quarter worth approximately $124,000. Victory Capital Management Inc. lifted its holdings in Heartland Financial USA by 12.8% during the 1st quarter. Victory Capital Management Inc. now owns 11,786 shares of the bank’s stock worth $592,000 after purchasing an additional 1,338 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Heartland Financial USA by 27.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 39,477 shares of the bank’s stock worth $1,984,000 after purchasing an additional 8,542 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its holdings in Heartland Financial USA by 14.1% during the 1st quarter. IndexIQ Advisors LLC now owns 7,913 shares of the bank’s stock worth $398,000 after purchasing an additional 978 shares during the last quarter. 59.42% of the stock is owned by institutional investors.
Heartland Financial USA Company Profile
Heartland Financial USA, Inc operates as a bank holding company. The firm provides commercial banking services. It also engages in the business of community banking. The company was founded in 1981 and is headquartered in Dubuque, IA.
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