HTLF Bank Takes Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

HTLF Bank acquired a new stake in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,478,945 shares of the bank’s stock, valued at approximately $55,623,000. Heartland Financial USA makes up approximately 6.6% of HTLF Bank’s investment portfolio, making the stock its 3rd biggest holding. HTLF Bank owned about 3.47% of Heartland Financial USA as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in HTLF. Versor Investments LP purchased a new position in shares of Heartland Financial USA in the third quarter worth about $245,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Heartland Financial USA by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 446,883 shares of the bank’s stock worth $13,152,000 after acquiring an additional 34,571 shares during the period. EJF Capital LLC purchased a new position in shares of Heartland Financial USA during the 3rd quarter worth $1,299,000. Assenagon Asset Management S.A. raised its holdings in Heartland Financial USA by 70.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 209,120 shares of the bank’s stock valued at $7,865,000 after buying an additional 86,285 shares during the period. Finally, KLCM Advisors Inc. purchased a new stake in Heartland Financial USA in the 3rd quarter valued at about $409,000. Institutional investors own 71.55% of the company’s stock.

Heartland Financial USA Stock Up 2.1 %

HTLF traded up $0.69 on Friday, reaching $34.17. The company’s stock had a trading volume of 36,642 shares, compared to its average volume of 253,973. The stock has a 50 day moving average of $33.76 and a two-hundred day moving average of $33.38. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 20.04 and a beta of 1.06. Heartland Financial USA, Inc. has a fifty-two week low of $26.10 and a fifty-two week high of $39.39.

Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings results on Monday, January 29th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.40. Heartland Financial USA had a return on equity of 11.56% and a net margin of 8.57%. The firm had revenue of $144.09 million during the quarter, compared to the consensus estimate of $178.60 million. During the same period in the prior year, the company posted $1.37 earnings per share. As a group, analysts forecast that Heartland Financial USA, Inc. will post 4.45 EPS for the current fiscal year.

Heartland Financial USA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Monday, February 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, February 9th. Heartland Financial USA’s dividend payout ratio is currently 71.01%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. TheStreet lowered shares of Heartland Financial USA from a “b” rating to a “c+” rating in a research note on Tuesday, January 30th. Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of Heartland Financial USA in a research report on Tuesday, January 30th. Raymond James raised Heartland Financial USA from a “market perform” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research report on Thursday, February 29th. Finally, Piper Sandler boosted their price objective on Heartland Financial USA from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Three investment 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

Heartland Financial USA Company Profile

Heartland Financial USA, Inc, a bank holding company, provides commercial, small business, and consumer banking services to individuals and businesses in the United States. The company accepts various deposit products, including checking, demand deposit accounts, NOW accounts, savings, money market, and individual retirement; certificates of deposit; and other time deposits.