Access Investment Management LLC Purchases New Stake in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Access Investment Management LLC acquired a new position in Heartland Financial USA, Inc. (NASDAQ:HTLFFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,400 shares of the bank’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Signaturefd LLC lifted its stake in shares of 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 purchasing an additional 349 shares during the period. Principal Securities Inc. purchased a new stake in shares of Heartland Financial USA during the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. boosted its stake in shares of Heartland Financial USA by 248.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,706 shares of the bank’s stock worth $50,000 after acquiring an additional 1,216 shares in the last quarter. Covestor Ltd grew its holdings in shares of Heartland Financial USA by 79.8% in the 3rd quarter. Covestor Ltd now owns 2,969 shares of the bank’s stock worth $87,000 after acquiring an additional 1,318 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Heartland Financial USA in the 3rd quarter valued at approximately $232,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Heartland Financial USA Trading Up 1.9 %

Shares of HTLF traded up $0.81 on Friday, hitting $43.95. 919,841 shares of the stock traded hands, compared to its average volume of 594,909. The firm has a market capitalization of $1.88 billion, a P/E ratio of 26.48 and a beta of 0.98. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 0.20. Heartland Financial USA, Inc. has a 1 year low of $26.10 and a 1 year high of $44.47. The stock’s 50 day moving average is $35.96 and its two-hundred day moving average is $34.58.

Heartland Financial USA (NASDAQ:HTLFGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The bank reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The company had revenue of $279.39 million for the quarter, compared to analyst estimates of $182.73 million. Heartland Financial USA had a return on equity of 11.33% and a net margin of 8.17%. During the same quarter in the prior year, the company posted $1.22 EPS. As a group, sell-side analysts predict that Heartland Financial USA, Inc. will post 4.49 earnings per share for the current year.

Heartland Financial USA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, May 10th. Heartland Financial USA’s dividend payout ratio (DPR) is 72.29%.

Analyst Ratings Changes

Several analysts have weighed in on HTLF shares. TheStreet lowered Heartland Financial USA from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods lifted 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 report on Tuesday, April 30th. DA Davidson increased their price target on shares of Heartland Financial USA from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. Piper Sandler raised their price objective on shares of Heartland Financial USA from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Finally, StockNews.com began coverage on Heartland Financial USA in a research note on Wednesday. They issued a “hold” rating on the stock. Three 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 stock. According to data from MarketBeat.com, Heartland Financial USA has an average rating of “Moderate Buy” and an average price target of $45.00.

Check Out Our Latest Report on HTLF

Insider Activity

In related news, Director Robert B. Engel sold 7,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $25.26, for a total value of $191,976.00. Following the sale, the director now directly owns 17,000 shares of the company’s stock, valued at $429,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

About Heartland Financial USA

(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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Institutional Ownership by Quarter for Heartland Financial USA (NASDAQ:HTLF)

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