HTLF Bank decreased its holdings in Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) by 15.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,167,225 shares of the bank's stock after selling 205,763 shares during the quarter. Heartland Financial USA comprises approximately 7.2% of HTLF Bank's portfolio, making the stock its 3rd biggest position. HTLF Bank owned 2.73% of Heartland Financial USA worth $66,182,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HTLF. USA Financial Formulas lifted its position in Heartland Financial USA by 28.0% during the third quarter. USA Financial Formulas now owns 1,060 shares of the bank's stock valued at $60,000 after buying an additional 232 shares during the period. Innealta Capital LLC purchased a new position in Heartland Financial USA during the second quarter valued at $83,000. Meeder Asset Management Inc. lifted its position in Heartland Financial USA by 695.2% during the first quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank's stock valued at $99,000 after buying an additional 2,454 shares during the period. SG Americas Securities LLC purchased a new position in Heartland Financial USA during the third quarter valued at $125,000. Finally, First Affirmative Financial Network purchased a new position in Heartland Financial USA during the second quarter valued at $209,000. Hedge funds and other institutional investors own 71.55% of the company's stock.
Separately, StockNews.com started coverage on Heartland Financial USA in a research report on Tuesday. They issued a "hold" rating for the company. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.60.
View Our Latest Stock Analysis on HTLF
In related news, EVP Lo B. Nestman sold 4,389 shares of Heartland Financial USA stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.14, for a total value of $220,064.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.
Shares of HTLF traded up $0.52 during mid-day trading on Tuesday, hitting $59.84. The company's stock had a trading volume of 291,350 shares, compared to its average volume of 294,055. The company's 50-day moving average is $54.69 and its 200-day moving average is $47.11. Heartland Financial USA, Inc. has a 52-week low of $26.44 and a 52-week high of $61.01. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 36.05 and a beta of 0.95. The company has a current ratio of 0.77, a quick ratio of 0.75 and a debt-to-equity ratio of 0.19.
Heartland Financial USA (NASDAQ:HTLF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. The business had revenue of $188.92 million for the quarter, compared to analyst estimates of $183.19 million. Heartland Financial USA had a net margin of 7.12% and a return on equity of 11.11%. Heartland Financial USA's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. On average, equities research analysts forecast that Heartland Financial USA, Inc. will post 4.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.01%. The ex-dividend date was Tuesday, August 13th. Heartland Financial USA's payout ratio is currently 72.29%.
Heartland Financial USA, Inc, a bank holding company, provides commercial, small business, and consumer banking services to individuals and businesses in the United States. The company accepts various deposit products, including checking, demand deposit accounts, NOW accounts, savings, money market, and individual retirement; certificates of deposit; and other time deposits.
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