Heartland Financial USA (NASDAQ:HTLF) Reaches New 52-Week High After Strong Earnings

Heartland Financial USA, Inc. (NASDAQ:HTLF)’s stock price reached a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $41.43 and last traded at $41.43, with a volume of 12052 shares traded. The stock had previously closed at $35.72.

The bank reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. The firm had revenue of $279.39 million during the quarter, compared to the consensus estimate of $182.73 million. Heartland Financial USA had a return on equity of 11.56% and a net margin of 8.57%. During the same quarter in the previous year, the firm earned $1.22 earnings per share.

Heartland Financial USA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Friday, May 10th. Heartland Financial USA’s dividend payout ratio is 71.01%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HTLF. TheStreet downgraded shares of Heartland Financial USA from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. Piper Sandler increased their target price on Heartland Financial USA from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. DA Davidson lifted their price target on Heartland Financial USA from $36.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday. Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of Heartland Financial USA in a report on Tuesday, January 30th. Finally, Raymond James upgraded shares of Heartland Financial USA from a “market perform” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Hedge Funds Weigh In On Heartland Financial USA

A number of hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in Heartland Financial USA by 66.3% in the third quarter. Signaturefd LLC now owns 875 shares of the bank’s stock valued at $26,000 after acquiring an additional 349 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Heartland Financial USA in the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. boosted its stake in shares of Heartland Financial USA by 248.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,706 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,216 shares during the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of Heartland Financial USA during the fourth quarter worth $50,000. Finally, TFO Wealth Partners LLC raised its stake in Heartland Financial USA by 37,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,259 shares of the bank’s stock worth $85,000 after buying an additional 2,253 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Heartland Financial USA Price Performance

The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.80 billion, a P/E ratio of 24.92 and a beta of 1.06. The business’s 50 day moving average is $34.30 and its two-hundred day moving average is $33.85.

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.