Heartland Financial USA, Inc. (NASDAQ:HTLF - Get Free Report) shares saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 509,622 shares traded hands during mid-day trading, an increase of 78% from the previous session's volume of 286,247 shares.The stock last traded at $42.89 and had previously closed at $41.13.
The bank reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.08. The business had revenue of $279.39 million during the quarter, compared to analysts' expectations of $182.73 million. Heartland Financial USA had a net margin of 8.57% and a return on equity of 11.56%. During the same period last year, the company posted $1.22 earnings per share.
Heartland Financial USA Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.20 dividend on an annualized basis and a yield of 2.85%. Heartland Financial USA's dividend payout ratio (DPR) is presently 71.01%.
Wall Street Analyst Weigh In
HTLF has been the topic of a number of recent research reports. Stephens reiterated an "overweight" rating and issued a $45.00 target price on shares of Heartland Financial USA in a report on Tuesday, January 30th. Keefe, Bruyette & Woods upped their target price on shares of Heartland Financial USA from $41.00 to $51.00 and gave the stock a "market perform" rating in a research note on Tuesday. DA Davidson upped their price objective on Heartland Financial USA from $36.00 to $45.00 and gave the company a "neutral" rating in a research note on Tuesday. TheStreet downgraded shares of Heartland Financial USA from a "b" rating to a "c+" rating in a research note on Tuesday, January 30th. Finally, Piper Sandler lifted their price objective on shares of Heartland Financial USA from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Heartland Financial USA currently has an average rating of "Moderate Buy" and a consensus target price of $45.00.
Check Out Our Latest Analysis on HTLF
Hedge Funds Weigh In On Heartland Financial USA
Several hedge funds have recently bought and sold shares of HTLF. HTLF Bank bought a new position in shares of Heartland Financial USA in the fourth quarter worth $55,623,000. Norges Bank purchased a new stake in shares of Heartland Financial USA during the 4th quarter valued at $11,502,000. AQR Capital Management LLC lifted its holdings in shares of Heartland Financial USA by 470.7% during the 3rd quarter. AQR Capital Management LLC now owns 272,767 shares of the bank's stock worth $8,028,000 after acquiring an additional 224,975 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Heartland Financial USA by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 3,232,944 shares of the bank's stock worth $121,591,000 after acquiring an additional 88,886 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Heartland Financial USA by 166.6% during the third quarter. Envestnet Asset Management Inc. now owns 141,996 shares of the bank's stock valued at $4,179,000 after purchasing an additional 88,739 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.
Heartland Financial USA Price Performance
The stock has a market capitalization of $1.80 billion, a P/E ratio of 24.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a 50-day moving average price of $34.30 and a 200 day moving average price of $33.85.
Heartland Financial USA Company Profile
(
Get Free Report)
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.
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