HTLF Bank Makes New $55.62 Million Investment in Heartland Financial USA, Inc. (NASDAQ:HTLF)

HTLF Bank purchased a new position in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,478,945 shares of the bank's stock, valued at approximately $55,623,000. Heartland Financial USA makes up 6.6% of HTLF Bank's portfolio, making the stock its 3rd largest position. HTLF Bank owned about 3.47% of Heartland Financial USA as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sippican Capital Advisors purchased a new stake in shares of Heartland Financial USA during the 4th quarter worth approximately $542,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Heartland Financial USA during the 4th quarter worth approximately $460,000. Phocas Financial Corp. lifted its position in shares of Heartland Financial USA by 1.0% during the 4th quarter. Phocas Financial Corp. now owns 91,960 shares of the bank's stock worth $3,459,000 after buying an additional 879 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Heartland Financial USA by 5.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,032 shares of the bank's stock worth $716,000 after buying an additional 998 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Heartland Financial USA by 70.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 209,120 shares of the bank's stock worth $7,865,000 after buying an additional 86,285 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Heartland Financial USA Stock Performance

HTLF stock traded up $1.32 on Friday, hitting $34.80. The company's stock had a trading volume of 232,738 shares, compared to its average volume of 256,595. The firm has a 50 day moving average of $33.79 and a two-hundred day moving average of $33.42. Heartland Financial USA, Inc. has a 1 year low of $26.10 and a 1 year high of $39.39. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 20.59 and a beta of 1.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.20.

Heartland Financial USA (NASDAQ:HTLF - Get Free Report) last released its quarterly earnings results on Monday, January 29th. The bank reported $1.06 EPS for the quarter, beating the consensus estimate of $0.66 by $0.40. The firm had revenue of $144.09 million during the quarter, compared to the consensus estimate of $178.60 million. Heartland Financial USA had a net margin of 8.57% and a return on equity of 11.56%. During the same quarter in the prior year, the firm earned $1.37 EPS. Equities analysts predict that Heartland Financial USA, Inc. will post 4.45 EPS for the current fiscal year.

Heartland Financial USA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Monday, February 12th were paid a $0.30 dividend. The ex-dividend date was Friday, February 9th. This represents a $1.20 annualized dividend and a yield of 3.45%. Heartland Financial USA's dividend payout ratio is currently 71.01%.

Analysts Set New Price Targets

HTLF has been the subject of several recent analyst reports. TheStreet downgraded shares of Heartland Financial USA from a "b" rating to a "c+" rating in a research report on Tuesday, January 30th. Raymond James upgraded shares of Heartland Financial USA from a "market perform" rating to a "strong-buy" rating and set a $41.00 price objective for the company in a research report on Thursday, February 29th. Stephens restated an "overweight" rating and set a $45.00 price objective on shares of Heartland Financial USA in a research report on Tuesday, January 30th. Finally, Piper Sandler upped their price target on shares of Heartland Financial USA from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Heartland Financial USA presently has a consensus rating of "Moderate Buy" and an average target price of $39.80.

About Heartland Financial USA

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.