Earnest Partners LLC raised its stake in Heartland Financial USA Inc (NASDAQ:HTLF) by 3.3% in the second quarter, HoldingsChannel.com reports. The fund owned 1,542,406 shares of the bank’s stock after purchasing an additional 49,281 shares during the quarter. Earnest Partners LLC’s holdings in Heartland Financial USA were worth $68,992,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Heartland Financial USA by 5.6% in the second quarter. BlackRock Inc. now owns 2,320,889 shares of the bank’s stock worth $103,813,000 after acquiring an additional 122,877 shares during the last quarter. Geode Capital Management LLC grew its position in Heartland Financial USA by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 334,929 shares of the bank’s stock valued at $14,720,000 after acquiring an additional 24,812 shares during the period. Bank of New York Mellon Corp grew its position in Heartland Financial USA by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 209,750 shares of the bank’s stock valued at $9,382,000 after acquiring an additional 1,082 shares during the period. Renaissance Technologies LLC grew its position in Heartland Financial USA by 1.9% during the second quarter. Renaissance Technologies LLC now owns 208,600 shares of the bank’s stock valued at $9,331,000 after acquiring an additional 3,800 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Heartland Financial USA by 15.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 191,254 shares of the bank’s stock valued at $8,555,000 after acquiring an additional 25,454 shares during the period. 51.32% of the stock is owned by institutional investors.
In other Heartland Financial USA news, CFO Bryan Mckeag purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average price of $41.76 per share, for a total transaction of $41,760.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.10% of the company’s stock.
HTLF has been the subject of a number of research reports. Zacks Investment Research raised Heartland Financial USA from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Piper Jaffray Companies lowered their price target on Heartland Financial USA from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. ValuEngine cut Heartland Financial USA from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Finally, BidaskClub upgraded Heartland Financial USA from a “sell” rating to a “hold” rating in a research note on Thursday.
NASDAQ:HTLF opened at $46.99 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.82. Heartland Financial USA Inc has a one year low of $40.80 and a one year high of $61.95. The business’s 50-day simple moving average is $44.36 and its 200 day simple moving average is $44.55. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99.
Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings results on Monday, July 29th. The bank reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.32. Heartland Financial USA had a return on equity of 10.37% and a net margin of 23.19%. The business had revenue of $138.77 million for the quarter, compared to analysts’ expectations of $135.69 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities research analysts predict that Heartland Financial USA Inc will post 4.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were paid a $0.18 dividend. This is a boost from Heartland Financial USA’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. Heartland Financial USA’s payout ratio is 20.45%.
Heartland Financial USA Company Profile
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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