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. “
Heartland Financial USA, Inc. (NASDAQ:HTLF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
HTLF has been the topic of a number of other research reports. FBR & Co restated a “mkt perform” rating and set a $52.00 target price (up previously from $50.00) on shares of Heartland Financial USA in a report on Tuesday, April 25th. DA Davidson cut Heartland Financial USA from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Finally, BidaskClub cut Heartland Financial USA from a “hold” rating to a “sell” rating in a report on Friday, June 23rd.
Heartland Financial USA (HTLF) traded down 1.16% during mid-day trading on Wednesday, reaching $46.95. 45,104 shares of the company’s stock were exchanged. Heartland Financial USA has a 52 week low of $35.02 and a 52 week high of $52.65. The stock has a 50-day moving average price of $46.81 and a 200-day moving average price of $47.74. The stock has a market cap of $1.25 billion, a P/E ratio of 15.27 and a beta of 0.65.
Heartland Financial USA (NASDAQ:HTLF) last issued its earnings results on Monday, July 31st. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.08. Heartland Financial USA had a return on equity of 10.71% and a net margin of 18.38%. The firm had revenue of $100.20 million for the quarter, compared to analysts’ expectations of $103.48 million. During the same quarter last year, the business earned $0.84 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Heartland Financial USA will post $2.92 earnings per share for the current year.
In other Heartland Financial USA news, CEO Lynn B. Fuller acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $44.60 per share, for a total transaction of $44,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R Michael Mccoy acquired 2,030 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $44.67 per share, for a total transaction of $90,680.10. The disclosure for this purchase can be found here. 9.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its position in Heartland Financial USA by 10.5% in the first quarter. New York State Teachers Retirement System now owns 2,100 shares of the bank’s stock valued at $105,000 after buying an additional 200 shares during the period. Victory Capital Management Inc. boosted its position in Heartland Financial USA by 21.6% in the first quarter. Victory Capital Management Inc. now owns 3,243 shares of the bank’s stock valued at $162,000 after buying an additional 576 shares during the period. Tudor Investment Corp ET AL boosted its position in Heartland Financial USA by 5.1% in the first quarter. Tudor Investment Corp ET AL now owns 4,436 shares of the bank’s stock valued at $222,000 after buying an additional 216 shares during the period. Affinity Investment Advisors LLC acquired a new position in Heartland Financial USA during the first quarter valued at $231,000. Finally, Barometer Capital Management Inc. acquired a new position in Heartland Financial USA during the first quarter valued at $265,000. Institutional investors and hedge funds own 40.22% of the company’s stock.
About Heartland Financial USA
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.