Heartland Financial USA (NASDAQ:HTLF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, 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. “
Other equities research analysts have also recently issued reports about the stock. Raymond James reaffirmed a “hold” rating on shares of Heartland Financial USA in a research note on Wednesday, September 9th. DA Davidson increased their price objective on shares of Heartland Financial USA from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Finally, BidaskClub lowered shares of Heartland Financial USA from a “sell” rating to a “strong sell” rating in a report on Friday, August 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $43.00.
Heartland Financial USA stock opened at $30.53 on Tuesday. Heartland Financial USA has a 12 month low of $25.26 and a 12 month high of $51.85. The stock has a market capitalization of $1.13 billion, a PE ratio of 9.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.74 and a quick ratio of 0.74. The business has a 50 day simple moving average of $32.92 and a 200-day simple moving average of $31.60.
Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings data on Monday, July 27th. The bank reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.37. The firm had revenue of $154.78 million during the quarter, compared to analysts’ expectations of $141.79 million. Heartland Financial USA had a net margin of 19.00% and a return on equity of 8.89%. During the same quarter last year, the business earned $1.26 earnings per share. As a group, equities research analysts anticipate that Heartland Financial USA will post 3.62 EPS for the current year.
In other Heartland Financial USA news, Director Robert B. Engel bought 1,000 shares of Heartland Financial USA stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $30.75 per share, for a total transaction of $30,750.00. Following the completion of the acquisition, the director now owns 3,907 shares of the company’s stock, valued at approximately $120,140.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert B. Engel acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $26.97 per share, with a total value of $107,880.00. Following the purchase, the director now directly owns 4,907 shares in the company, valued at approximately $132,341.79. The disclosure for this purchase can be found here. Insiders acquired 7,000 shares of company stock worth $204,650 in the last 90 days. 6.50% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in HTLF. First Trust Advisors LP boosted its stake in Heartland Financial USA by 8.0% during the 1st quarter. First Trust Advisors LP now owns 123,546 shares of the bank’s stock valued at $5,269,000 after purchasing an additional 9,193 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in shares of Heartland Financial USA during the 1st quarter worth approximately $124,000. Rhumbline Advisers increased its holdings in Heartland Financial USA by 7.2% during the 1st quarter. Rhumbline Advisers now owns 58,676 shares of the bank’s stock valued at $1,772,000 after purchasing an additional 3,946 shares in the last quarter. Swiss National Bank increased its holdings in Heartland Financial USA by 1.4% during the 1st quarter. Swiss National Bank now owns 64,100 shares of the bank’s stock valued at $1,936,000 after purchasing an additional 900 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Heartland Financial USA by 165.8% during the 1st quarter. Acadian Asset Management LLC now owns 26,758 shares of the bank’s stock valued at $808,000 after purchasing an additional 16,692 shares in the last quarter. Institutional investors own 56.60% 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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