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. “
Several other equities research analysts also recently weighed in on HTLF. Piper Jaffray Companies cut their target price on shares of Heartland Financial USA from $54.00 to $53.00 and set an overweight rating on the stock in a research note on Tuesday, July 30th. BidaskClub raised shares of Heartland Financial USA from a sell rating to a hold rating in a research note on Friday, July 26th.
Heartland Financial USA (NASDAQ:HTLF) last announced its earnings results on Monday, July 29th. The bank reported $1.26 earnings per share for the quarter, topping 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 10.75%. The firm had revenue of $138.77 million for the quarter, compared to the consensus estimate of $135.69 million. During the same period in the prior year, the firm earned $0.85 EPS. As a group, equities research analysts forecast that Heartland Financial USA will post 3.97 earnings per share for the current year.
The firm also recently announced 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. This is an increase from Heartland Financial USA’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.55%. The ex-dividend date is Thursday, August 8th. Heartland Financial USA’s dividend payout ratio is presently 18.18%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gradient Investments LLC acquired a new position in Heartland Financial USA during the 2nd quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Heartland Financial USA during the 1st quarter worth approximately $33,000. Pearl River Capital LLC grew its holdings in Heartland Financial USA by 187.8% during the 1st quarter. Pearl River Capital LLC now owns 964 shares of the bank’s stock worth $42,000 after acquiring an additional 629 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Heartland Financial USA by 28.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,171 shares of the bank’s stock worth $93,000 after acquiring an additional 475 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Heartland Financial USA during the 1st quarter worth approximately $124,000. 50.48% of the stock is currently owned by hedge funds and other 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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