Heartland Financial USA Inc. (NASDAQ:HTLF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
A number of other equities analysts have also weighed in on the company. Sandler O’Neill lowered Heartland Financial USA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. DA Davidson lifted their price objective on Heartland Financial USA from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on Heartland Financial USA from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Heartland Financial USA currently has a consensus rating of “Buy” and a consensus price target of $37.50.
Shares of Heartland Financial USA (NASDAQ:HTLF) opened at 35.05 on Wednesday. The stock has a market capitalization of $860.30 million, a P/E ratio of 11.52 and a beta of 0.70. Heartland Financial USA has a 52-week low of $25.95 and a 52-week high of $39.45. The company has a 50 day moving average price of $36.08 and a 200-day moving average price of $34.43.
Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings data on Monday, July 25th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.08. The business earned $104.14 million during the quarter, compared to analyst estimates of $103 million. Heartland Financial USA had a return on equity of 11.50% and a net margin of 17.14%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, analysts predict that Heartland Financial USA will post $3.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders 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 dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, August 17th. Heartland Financial USA’s dividend payout ratio (DPR) is presently 13.25%.
In related news, Director Kurt Saylor sold 14,500 shares of Heartland Financial USA stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $35.25, for a total value of $511,125.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.63% of the company’s stock.
A number of large investors have recently bought and sold shares of HTLF. Dimensional Fund Advisors LP boosted its position in shares of Heartland Financial USA by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 754,233 shares of the company’s stock valued at $26,615,000 after buying an additional 59,430 shares in 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 valued at $3,691,000 after buying an additional 53,660 shares in the last quarter. Piermont Capital Management Inc. bought a new position in shares of Heartland Financial USA during the second quarter valued at $1,848,000. Maltese Capital Management LLC bought a new position in shares of Heartland Financial USA during the second quarter valued at $1,765,000. Finally, Vanguard Group Inc. boosted its position in shares of Heartland Financial USA by 6.5% in the second quarter. Vanguard Group Inc. now owns 724,494 shares of the company’s stock valued at $25,568,000 after buying an additional 43,954 shares in the last quarter. Institutional investors own 41.20% of the company’s stock.
About Heartland Financial USA
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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