Heartland Financial USA, Inc. (NASDAQ:HTLF) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Several other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $51.00 price target on shares of Heartland Financial USA in a report on Thursday, August 3rd. Zacks Investment Research cut Heartland Financial USA from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 7th. DA Davidson cut Heartland Financial USA from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Finally, FBR & Co reaffirmed a “mkt perform” rating and issued a $52.00 price target (up previously from $50.00) on shares of Heartland Financial USA in a report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $52.67.

Shares of Heartland Financial USA (NASDAQ:HTLF) traded down 0.35% during midday trading on Friday, reaching $43.25. The company’s stock had a trading volume of 126,909 shares. The stock has a market capitalization of $1.29 billion, a PE ratio of 14.18 and a beta of 0.65. The stock’s 50 day moving average is $46.29 and its 200 day moving average is $47.56. Heartland Financial USA has a 12 month low of $35.02 and a 12 month high of $52.65.

Heartland Financial USA (NASDAQ:HTLF) last announced its earnings results on Monday, July 31st. The bank reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.08. Heartland Financial USA had a return on equity of 10.48% 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 in the previous year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Heartland Financial USA will post $3.02 EPS for the current fiscal year.

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In related news, CEO Lynn B. Fuller purchased 1,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were bought at an average price of $44.60 per share, with a total value of $44,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Michael Mccoy purchased 2,030 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was bought at an average cost 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 corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Earnest Partners LLC bought a new position in Heartland Financial USA during the second quarter valued at about $11,709,000. State Street Corp boosted its position in Heartland Financial USA by 48.1% in the second quarter. State Street Corp now owns 626,086 shares of the bank’s stock valued at $29,489,000 after buying an additional 203,277 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Heartland Financial USA by 54.8% in the first quarter. Nuveen Asset Management LLC now owns 532,212 shares of the bank’s stock valued at $26,584,000 after buying an additional 188,436 shares in the last quarter. Stifel Financial Corp bought a new position in Heartland Financial USA during the first quarter valued at about $7,258,000. Finally, Honkamp Krueger Financial Services Inc. boosted its position in Heartland Financial USA by 994.8% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 110,100 shares of the bank’s stock valued at $5,186,000 after buying an additional 100,043 shares in the last quarter. 39.76% of the stock is currently owned by institutional investors.

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.

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