Bank of Montreal Can Takes Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Bank of Montreal Can acquired a new position in Heartland Financial USA, Inc. (NASDAQ:HTLF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,974 shares of the bank’s stock, valued at approximately $673,000.

Other large investors also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Heartland Financial USA by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 11,378 shares of the bank’s stock worth $506,000 after acquiring an additional 240 shares during the last quarter. ProShare Advisors LLC grew its holdings in Heartland Financial USA by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,600 shares of the bank’s stock valued at $267,000 after purchasing an additional 598 shares during the period. Choreo LLC grew its holdings in Heartland Financial USA by 8.6% during the first quarter. Choreo LLC now owns 9,211 shares of the bank’s stock valued at $324,000 after purchasing an additional 728 shares during the period. Clarity Asset Management Inc. purchased a new stake in Heartland Financial USA in the fourth quarter worth about $50,000. Finally, Innealta Capital LLC bought a new position in shares of Heartland Financial USA in the second quarter worth about $83,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Heartland Financial USA in a research note on Monday. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.60.

Heartland Financial USA Price Performance

NASDAQ:HTLF opened at $56.02 on Wednesday. The business’s 50-day simple moving average is $54.14 and its two-hundred day simple moving average is $46.44. Heartland Financial USA, Inc. has a 52 week low of $26.44 and a 52 week high of $59.16. The stock has a market cap of $2.40 billion, a PE ratio of 33.75 and a beta of 0.95. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 0.19.

Heartland Financial USA (NASDAQ:HTLF) last released its earnings results on Tuesday, July 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $188.92 million during the quarter, compared to analysts’ expectations of $183.19 million. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Heartland Financial USA, Inc. will post 4.73 EPS for the current fiscal year.

Heartland Financial USA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Tuesday, August 13th. Heartland Financial USA’s payout ratio is currently 72.29%.

Insider Transactions at Heartland Financial USA

In other Heartland Financial USA news, EVP Lo B. Nestman sold 4,389 shares of Heartland Financial USA stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.14, for a total value of $220,064.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Heartland Financial USA Company Profile

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.