Heartland Financial USA (NASDAQ:HTLF) Reaches New 1-Year High – Here’s What Happened

Heartland Financial USA, Inc. (NASDAQ:HTLF)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $61.56 and last traded at $61.35, with a volume of 66194 shares changing hands. The stock had previously closed at $57.79.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Heartland Financial USA in a report on Thursday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Heartland Financial USA has a consensus rating of “Moderate Buy” and an average target price of $45.60.

Heartland Financial USA Price Performance

The stock has a market capitalization of $2.51 billion, a PE ratio of 33.15 and a beta of 0.95. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average is $56.66 and its 200 day moving average is $49.15.

Heartland Financial USA (NASDAQ:HTLF) last posted its quarterly earnings results on Tuesday, October 29th. The bank reported $1.17 EPS for the quarter, meeting the consensus estimate of $1.17. Heartland Financial USA had a net margin of 8.79% and a return on equity of 11.04%. The business had revenue of $272.79 million for the quarter, compared to analysts’ expectations of $189.51 million. During the same period in the previous year, the company posted $1.12 EPS. As a group, equities analysts predict that Heartland Financial USA, Inc. will post 4.72 earnings per share for the current year.

Heartland Financial USA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.05%. Heartland Financial USA’s dividend payout ratio is 67.04%.

Insider Activity at Heartland Financial USA

In other news, EVP Lo B. Nestman sold 4,389 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.14, for a total transaction of $220,064.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Heartland Financial USA

A number of institutional investors and hedge funds have recently modified their holdings of HTLF. USA Financial Formulas lifted its position in shares of Heartland Financial USA by 28.0% during the 3rd quarter. USA Financial Formulas now owns 1,060 shares of the bank’s stock worth $60,000 after purchasing an additional 232 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Heartland Financial USA during the second quarter worth approximately $83,000. Meeder Asset Management Inc. boosted its position in shares of Heartland Financial USA by 695.2% in the first quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank’s stock valued at $99,000 after acquiring an additional 2,454 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Heartland Financial USA in the third quarter worth $125,000. Finally, Blue Trust Inc. increased its position in Heartland Financial USA by 2,193.4% during the third quarter. Blue Trust Inc. now owns 2,775 shares of the bank’s stock worth $157,000 after acquiring an additional 2,654 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

About Heartland Financial USA

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.