Heartland Financial USA, Inc. (NASDAQ:HTLF) Position Lessened by Denali Advisors LLC

Denali Advisors LLC lowered its holdings in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF) by 55.5% during the 2nd quarter, Holdings Channel reports. The fund owned 62,300 shares of the bank’s stock after selling 77,796 shares during the period. Denali Advisors LLC’s holdings in Heartland Financial USA were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Heartland Financial USA by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 3,244,151 shares of the bank’s stock valued at $114,032,000 after acquiring an additional 11,207 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Heartland Financial USA by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,384,697 shares of the bank’s stock valued at $105,999,000 after acquiring an additional 182,245 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Heartland Financial USA by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 478,927 shares of the bank’s stock valued at $18,012,000 after purchasing an additional 32,044 shares during the period. Stieven Capital Advisors L.P. increased its position in shares of Heartland Financial USA by 506.3% during the 1st quarter. Stieven Capital Advisors L.P. now owns 394,095 shares of the bank’s stock valued at $13,852,000 after purchasing an additional 329,095 shares during the period. Finally, Norges Bank acquired a new position in shares of Heartland Financial USA during the 4th quarter valued at $11,502,000. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lo B. Nestman sold 4,389 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.14, for a total transaction of $220,064.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by insiders.

Heartland Financial USA Price Performance

Shares of NASDAQ:HTLF opened at $56.66 on Tuesday. Heartland Financial USA, Inc. has a fifty-two week low of $26.44 and a fifty-two week high of $57.34. The business has a 50-day moving average of $52.36 and a two-hundred day moving average of $43.91. The stock has a market capitalization of $2.43 billion, a P/E ratio of 34.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.77 and a quick ratio of 0.75.

Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Heartland Financial USA had a return on equity of 11.11% and a net margin of 7.12%. The company had revenue of $188.92 million during the quarter, compared to analysts’ expectations of $183.19 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Heartland Financial USA, Inc. will post 4.72 EPS for the current fiscal year.

Heartland Financial USA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.12%. Heartland Financial USA’s dividend payout ratio is currently 72.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HTLF. Keefe, Bruyette & Woods upgraded Heartland Financial USA from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $51.00 to $54.00 in a report on Friday, May 31st. StockNews.com began coverage on Heartland Financial USA in a report on Friday. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Heartland Financial USA currently has an average rating of “Moderate Buy” and a consensus price target of $45.60.

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.