Heartland Financial USA (NASDAQ:HTLF) Cut to Hold at Zacks Investment Research

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Heartland Financial USA (NASDAQ:HTLF) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

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 research analysts have also issued reports on the stock. BidaskClub lowered shares of Heartland Financial USA from a “hold” rating to a “sell” rating in a report on Friday, October 11th. ValuEngine upgraded shares of Heartland Financial USA from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Piper Jaffray Companies lowered their price target on shares of Heartland Financial USA from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th.

Heartland Financial USA stock opened at $44.63 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.82. Heartland Financial USA has a 52-week low of $40.80 and a 52-week high of $55.74. The firm has a 50 day moving average price of $44.51 and a two-hundred day moving average price of $44.38. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 12.68 and a beta of 0.99.

Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings results on Monday, July 29th. The bank reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.32. Heartland Financial USA had a net margin of 23.19% and a return on equity of 10.37%. The firm had revenue of $138.77 million during the quarter, compared to analyst estimates of $135.69 million. During the same quarter last year, the business earned $0.85 EPS. As a group, equities research analysts predict that Heartland Financial USA will post 4.12 EPS for the current fiscal year.

In related news, CFO Bryan Mckeag acquired 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $41.76 per share, for a total transaction of $41,760.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. increased its stake in shares of Heartland Financial USA by 0.4% in the 3rd quarter. Dubuque Bank & Trust Co. now owns 1,658,879 shares of the bank’s stock valued at $74,218,000 after acquiring an additional 6,239 shares in the last quarter. Maltese Capital Management LLC increased its stake in shares of Heartland Financial USA by 122.1% in the 2nd quarter. Maltese Capital Management LLC now owns 100,033 shares of the bank’s stock valued at $4,474,000 after acquiring an additional 54,998 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Heartland Financial USA by 7.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,363 shares of the bank’s stock valued at $329,000 after acquiring an additional 481 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Heartland Financial USA in the 2nd quarter valued at $202,000. Finally, Frontier Wealth Management LLC bought a new stake in shares of Heartland Financial USA in the 2nd quarter valued at $1,008,000. Institutional investors own 50.97% of the company’s stock.

About Heartland Financial USA

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

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