Financial Counselors Inc. lowered its position in Heartland Financial USA Inc (NASDAQ:HTLF) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,881 shares of the bank’s stock after selling 14,465 shares during the period. Financial Counselors Inc. owned about 0.55% of Heartland Financial USA worth $11,023,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HTLF. BlackRock Inc. increased its position in shares of Heartland Financial USA by 26.8% in the 2nd quarter. BlackRock Inc. now owns 1,994,517 shares of the bank’s stock valued at $109,398,000 after buying an additional 421,481 shares in the last quarter. FMR LLC increased its holdings in Heartland Financial USA by 23.7% during the 2nd quarter. FMR LLC now owns 1,363,391 shares of the bank’s stock worth $74,782,000 after purchasing an additional 260,870 shares in the last quarter. Millennium Management LLC bought a new position in Heartland Financial USA during the 2nd quarter worth about $6,098,000. Accredited Investors Inc. increased its holdings in Heartland Financial USA by 128.4% during the 2nd quarter. Accredited Investors Inc. now owns 128,678 shares of the bank’s stock worth $7,058,000 after purchasing an additional 72,340 shares in the last quarter. Finally, Dubuque Bank & Trust Co. increased its holdings in Heartland Financial USA by 2.9% during the 3rd quarter. Dubuque Bank & Trust Co. now owns 1,786,028 shares of the bank’s stock worth $103,679,000 after purchasing an additional 49,944 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company’s stock.
In other news, Director Kurt Saylor sold 5,000 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $60.55, for a total transaction of $302,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Michael Mccoy acquired 3,544 shares of Heartland Financial USA stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $54.01 per share, with a total value of $191,411.44. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 27,260 shares of company stock valued at $1,578,884. Company insiders own 6.60% of the company’s stock.
HTLF has been the subject of a number of research reports. BidaskClub upgraded Heartland Financial USA from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. ValuEngine cut Heartland Financial USA from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Heartland Financial USA presently has a consensus rating of “Hold” and an average target price of $59.50.
HTLF stock traded up $0.14 during trading hours on Thursday, reaching $53.34. 73,563 shares of the stock were exchanged, compared to its average volume of 92,555. The stock has a market cap of $1.83 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.48 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.22. Heartland Financial USA Inc has a 12 month low of $49.00 and a 12 month high of $61.95.
Heartland Financial USA (NASDAQ:HTLF) last released its earnings results on Monday, October 29th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.02. Heartland Financial USA had a return on equity of 9.52% and a net margin of 17.94%. The firm had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $138.73 million. During the same quarter in the prior year, the company earned $0.72 EPS. On average, analysts forecast that Heartland Financial USA Inc will post 3.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.05%. Heartland Financial USA’s dividend payout ratio is 18.67%.
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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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