Heartland Financial USA Inc (NASDAQ:HTLF) – Piper Jaffray Companies increased their FY2019 EPS estimates for shares of Heartland Financial USA in a note issued to investors on Monday, July 29th, Zacks Investment Research reports. Piper Jaffray Companies analyst N. Race now expects that the bank will earn $4.09 per share for the year, up from their prior estimate of $3.99. Piper Jaffray Companies currently has a “Overweight” rating and a $53.00 target price on the stock. Piper Jaffray Companies also issued estimates for Heartland Financial USA’s Q4 2019 earnings at $1.01 EPS, Q1 2020 earnings at $0.98 EPS, Q3 2020 earnings at $1.08 EPS and FY2020 earnings at $4.22 EPS.
Several other analysts have also issued reports on HTLF. ValuEngine lowered shares of Heartland Financial USA from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research raised shares of Heartland Financial USA from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, BidaskClub cut shares of Heartland Financial USA from a “hold” rating to a “sell” rating in a research note on Friday, August 16th.
Heartland Financial USA (NASDAQ:HTLF) last posted its quarterly earnings results on Monday, July 29th. The bank reported $1.26 earnings per share (EPS) for the quarter, beating 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 company had revenue of $138.77 million for the quarter, compared to analyst estimates of $135.69 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 9th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.72 annualized dividend and a yield of 1.71%. This is a boost from Heartland Financial USA’s previous quarterly dividend of $0.16. Heartland Financial USA’s payout ratio is currently 20.45%.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Heartland Financial USA by 5.6% during the second quarter. BlackRock Inc. now owns 2,320,889 shares of the bank’s stock valued at $103,813,000 after acquiring an additional 122,877 shares in the last quarter. Vanguard Group Inc. grew its stake in Heartland Financial USA by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,241,476 shares of the bank’s stock worth $100,260,000 after buying an additional 80,897 shares in the last quarter. Earnest Partners LLC grew its stake in Heartland Financial USA by 3.3% in the 2nd quarter. Earnest Partners LLC now owns 1,542,406 shares of the bank’s stock worth $68,992,000 after buying an additional 49,281 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Heartland Financial USA by 18.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 888,052 shares of the bank’s stock worth $39,723,000 after buying an additional 138,029 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Heartland Financial USA by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 334,929 shares of the bank’s stock worth $14,720,000 after buying an additional 24,812 shares in the last quarter. 49.97% of the stock is owned by institutional investors.
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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