Piper Jaffray Reiterates Buy Rating for Heartland Financial USA (HTLF)

Heartland Financial USA (NASDAQ:HTLF)‘s stock had its “buy” rating reissued by stock analysts at Piper Jaffray in a research note issued to investors on Friday. Piper Jaffray also issued estimates for Heartland Financial USA’s Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $1.05 EPS, Q3 2018 earnings at $1.07 EPS, Q4 2018 earnings at $1.05 EPS, FY2018 earnings at $4.06 EPS, Q1 2019 earnings at $1.03 EPS, Q2 2019 earnings at $1.12 EPS, Q3 2019 earnings at $1.12 EPS, Q4 2019 earnings at $1.16 EPS and FY2019 earnings at $4.43 EPS.

Several other research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Heartland Financial USA from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, December 19th. BidaskClub upgraded shares of Heartland Financial USA from a “hold” rating to a “buy” rating in a research note on Saturday, March 3rd. ValuEngine upgraded shares of Heartland Financial USA from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Raymond James Financial reiterated an “outperform” rating and issued a $58.00 price target on shares of Heartland Financial USA in a research note on Tuesday, January 9th. They noted that the move was a valuation call. Finally, B. Riley reiterated a “hold” rating and issued a $50.00 price target on shares of Heartland Financial USA in a research note on Wednesday, December 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $56.50.

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Heartland Financial USA stock opened at $52.05 on Friday. The stock has a market cap of $1,616.36, a PE ratio of 17.29, a PEG ratio of 1.35 and a beta of 0.70. Heartland Financial USA has a fifty-two week low of $42.10 and a fifty-two week high of $56.40. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.29.

Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $118.38 million for the quarter, compared to analyst estimates of $116.31 million. Heartland Financial USA had a net margin of 16.16% and a return on equity of 9.64%. During the same period in the previous year, the business earned $0.74 EPS. research analysts expect that Heartland Financial USA will post 3.84 EPS for the current fiscal year.

In related news, EVP Kelly J. Johnson sold 2,026 shares of the company’s stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $53.05, for a total value of $107,479.30. Following the transaction, the executive vice president now owns 6,038 shares in the company, valued at approximately $320,315.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kurt Saylor sold 22,500 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $53.32, for a total transaction of $1,199,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,026 shares of company stock worth $5,514,379. 9.00% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in HTLF. American International Group Inc. grew its position in shares of Heartland Financial USA by 8.1% during the 3rd quarter. American International Group Inc. now owns 16,467 shares of the bank’s stock worth $813,000 after purchasing an additional 1,231 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Heartland Financial USA during the 3rd quarter worth approximately $328,000. Wells Fargo & Company MN grew its position in shares of Heartland Financial USA by 9.9% during the 3rd quarter. Wells Fargo & Company MN now owns 246,461 shares of the bank’s stock worth $12,175,000 after purchasing an additional 22,106 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Heartland Financial USA by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,062,166 shares of the bank’s stock worth $52,471,000 after purchasing an additional 55,543 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Heartland Financial USA by 33.9% during the 3rd quarter. Stifel Financial Corp now owns 230,290 shares of the bank’s stock worth $11,390,000 after purchasing an additional 58,324 shares in the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

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Heartland Financial USA Company Profile

Heartland Financial USA, Inc (Heartland) is a diversified financial services company engaged in providing banking, mortgage, private client, investment, treasury management, card services, insurance, and consumer finance services to individuals and businesses. Its segments include community and other banking, and retail mortgage banking.

Analyst Recommendations for Heartland Financial USA (NASDAQ:HTLF)

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