Zacks Investment Research upgraded shares of Heartland Financial USA (NASDAQ:HTLF) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $58.00 price target on the bank’s stock.
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 equities research analysts have also recently issued reports on HTLF. Piper Jaffray reaffirmed a buy rating on shares of Heartland Financial USA in a research note on Friday, April 6th. ValuEngine cut shares of Heartland Financial USA from a buy rating to a hold rating in a research note on Monday, April 9th. B. Riley reaffirmed a hold rating and set a $59.00 price target on shares of Heartland Financial USA in a research note on Tuesday, January 30th. BidaskClub upgraded shares of Heartland Financial USA from a hold rating to a buy rating in a report on Tuesday, January 16th. Finally, UBS lowered shares of Heartland Financial USA from a strong-buy rating to an outperform rating in a report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $56.50.
Heartland Financial USA stock opened at $53.20 on Wednesday. Heartland Financial USA has a 12-month low of $42.10 and a 12-month high of $56.40. The stock has a market cap of $1,662.15, a price-to-earnings ratio of 17.73, a PEG ratio of 1.39 and a beta of 0.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77.
Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings results on Monday, January 29th. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. Heartland Financial USA had a net margin of 16.16% and a return on equity of 9.64%. The company had revenue of $118.38 million for the quarter, compared to analysts’ expectations of $116.31 million. During the same period last year, the company earned $0.74 EPS. equities 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 firm’s stock in a transaction that occurred on 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 $320,315.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kurt Saylor sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $53.21, for a total transaction of $1,197,225.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,026 shares of company stock worth $5,514,379. Insiders own 9.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HTLF. Earnest Partners LLC raised its holdings in Heartland Financial USA by 257.3% in the fourth quarter. Earnest Partners LLC now owns 972,537 shares of the bank’s stock valued at $52,177,000 after buying an additional 700,383 shares during the period. Dubuque Bank & Trust Co. raised its holdings in Heartland Financial USA by 12.2% in the fourth quarter. Dubuque Bank & Trust Co. now owns 1,768,893 shares of the bank’s stock valued at $94,901,000 after buying an additional 192,188 shares during the period. Thrivent Financial For Lutherans raised its holdings in Heartland Financial USA by 123.7% in the fourth quarter. Thrivent Financial For Lutherans now owns 224,664 shares of the bank’s stock valued at $12,053,000 after buying an additional 124,232 shares during the period. PrairieView Partners LLC purchased a new position in Heartland Financial USA in the fourth quarter valued at approximately $5,452,000. Finally, BlackRock Inc. raised its holdings in Heartland Financial USA by 5.6% in the fourth quarter. BlackRock Inc. now owns 1,593,107 shares of the bank’s stock valued at $85,471,000 after buying an additional 84,486 shares during the period. 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.
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