California Public Employees Retirement System lifted its holdings in shares of Heartland Financial USA Inc (NASDAQ:HTLF) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,307 shares of the bank’s stock after buying an additional 11,541 shares during the period. California Public Employees Retirement System owned approximately 0.30% of Heartland Financial USA worth $5,437,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in HTLF. HGK Asset Management Inc. boosted its holdings in shares of Heartland Financial USA by 26.1% in the 4th quarter. HGK Asset Management Inc. now owns 10,166 shares of the bank’s stock worth $506,000 after purchasing an additional 2,103 shares during the period. Loveless Wealth Management LLC purchased a new position in shares of Heartland Financial USA in the 4th quarter worth approximately $290,000. Metropolitan Life Insurance Co NY boosted its holdings in shares of Heartland Financial USA by 11.8% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,728 shares of the bank’s stock worth $480,000 after purchasing an additional 1,133 shares during the period. Millennium Management LLC boosted its holdings in shares of Heartland Financial USA by 81.0% in the 3rd quarter. Millennium Management LLC now owns 151,083 shares of the bank’s stock worth $6,759,000 after purchasing an additional 67,612 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Heartland Financial USA by 7.3% in the 3rd quarter. California State Teachers Retirement System now owns 54,186 shares of the bank’s stock worth $2,424,000 after purchasing an additional 3,692 shares during the period. 53.45% of the stock is currently owned by institutional investors.
In related news, Director Martin J. Schmitz sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the director now directly owns 69,872 shares of the company’s stock, valued at approximately $3,493,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry H. Orr sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $50.00, for a total value of $55,000.00. Following the sale, the director now directly owns 229,166 shares of the company’s stock, valued at $11,458,300. The disclosure for this sale can be found here. Insiders have sold a total of 7,907 shares of company stock valued at $395,305 over the last three months. 6.10% of the stock is owned by corporate insiders.
Heartland Financial USA (NASDAQ:HTLF) last issued its quarterly earnings results on Monday, January 27th. The bank reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. Heartland Financial USA had a return on equity of 10.04% and a net margin of 23.65%. The firm had revenue of $140.78 million during the quarter, compared to analyst estimates of $138.70 million. During the same period last year, the company earned $0.93 EPS. As a group, sell-side analysts forecast that Heartland Financial USA Inc will post 4.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.20 per share. This is a positive change from Heartland Financial USA’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, February 13th. Heartland Financial USA’s dividend payout ratio (DPR) is currently 17.39%.
HTLF has been the subject of a number of recent research reports. Piper Sandler upgraded Heartland Financial USA from a “neutral” rating to an “overweight” rating and set a $53.00 target price for the company in a report on Tuesday, January 28th. BidaskClub upgraded Heartland Financial USA from a “strong sell” rating to a “sell” rating in a report on Friday, January 31st. Finally, Zacks Investment Research raised Heartland Financial USA from a “sell” rating to a “hold” rating and set a $56.00 price target for the company in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Heartland Financial USA has a consensus rating of “Hold” and an average price target of $54.00.
Heartland Financial USA Profile
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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