Heartland Financial USA (NASDAQ:HTLF) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Heartland Financial USA (NASDAQ:HTLF) from a sell rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

A number of other equities analysts have also recently weighed in on HTLF. Zacks Investment Research raised shares of Heartland Financial USA from a sell rating to a hold rating in a research report on Wednesday, July 31st. ValuEngine cut shares of Heartland Financial USA from a hold rating to a sell rating in a research report on Wednesday, August 21st. Finally, Piper Jaffray Companies reduced their price target on shares of Heartland Financial USA from $54.00 to $53.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th.

HTLF stock traded up $0.64 during midday trading on Thursday, reaching $47.06. The company’s stock had a trading volume of 81,747 shares, compared to its average volume of 102,601. Heartland Financial USA has a 52 week low of $40.80 and a 52 week high of $61.95. The stock has a market cap of $1.64 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $44.36 and its 200-day simple moving average is $44.55.

Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings data on Monday, July 29th. The bank reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $138.77 million for the quarter, compared to analysts’ expectations of $135.69 million. During the same period last year, the firm earned $0.85 earnings per share. As a group, equities analysts forecast that Heartland Financial USA will post 4.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Heartland Financial USA’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, August 8th. Heartland Financial USA’s dividend payout ratio (DPR) is currently 20.45%.

In other news, CFO Bryan Mckeag purchased 1,000 shares of Heartland Financial USA stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $41.76 per share, with a total value of $41,760.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HTLF. Gradient Investments LLC acquired a new stake in shares of Heartland Financial USA during the second quarter worth $29,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Heartland Financial USA by 28.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,171 shares of the bank’s stock worth $93,000 after acquiring an additional 475 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Heartland Financial USA during the first quarter worth $124,000. Bank of Montreal Can raised its holdings in shares of Heartland Financial USA by 380.8% during the second quarter. Bank of Montreal Can now owns 3,481 shares of the bank’s stock worth $155,000 after acquiring an additional 2,757 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of Heartland Financial USA during the second quarter worth $202,000. 51.32% of the stock is currently 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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