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

Heartland Financial USA, Inc. (NASDAQ:HTLF)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $69.97 and last traded at $69.97, with a volume of 18697 shares changing hands. The stock had previously closed at $67.53.

Analyst Ratings Changes

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

Heartland Financial USA Trading Up 2.1 %

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.96 billion, a PE ratio of 38.52 and a beta of 0.94. The business’s fifty day moving average is $59.88 and its 200 day moving average is $52.31.

Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $1.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.17. The business had revenue of $272.79 million for the quarter, compared to analysts’ expectations of $189.51 million. Heartland Financial USA had a return on equity of 10.81% and a net margin of 8.79%. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, analysts predict that Heartland Financial USA, Inc. will post 4.57 earnings per share for the current year.

Heartland Financial USA Announces Dividend

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 paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, November 12th. Heartland Financial USA’s dividend payout ratio (DPR) is presently 67.04%.

Insider Activity at Heartland Financial USA

In related news, Director John K. Schmidt sold 22,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $68.32, for a total value of $1,537,200.00. Following the completion of the transaction, the director now owns 60,541 shares of the company’s stock, valued at approximately $4,136,161.12. The trade was a 27.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark A. Frank sold 432 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $67.24, for a total transaction of $29,047.68. Following the completion of the transaction, the executive vice president now owns 1,060 shares in the company, valued at approximately $71,274.40. This trade represents a 28.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Heartland Financial USA

Institutional investors have recently modified their holdings of the company. Magnetar Financial LLC acquired a new position in Heartland Financial USA in the second quarter valued at $46,626,000. Millennium Management LLC increased its stake in shares of Heartland Financial USA by 2,309.0% during the 2nd quarter. Millennium Management LLC now owns 710,923 shares of the bank’s stock valued at $31,601,000 after acquiring an additional 681,412 shares during the last quarter. Westchester Capital Management LLC lifted its holdings in shares of Heartland Financial USA by 260.1% during the 3rd quarter. Westchester Capital Management LLC now owns 582,880 shares of the bank’s stock worth $33,049,000 after acquiring an additional 421,000 shares during the period. Slotnik Capital LLC acquired a new stake in shares of Heartland Financial USA in the second quarter worth approximately $13,714,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Heartland Financial USA in the second quarter worth approximately $10,601,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Heartland Financial USA Company Profile

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.