Victory Capital Management Inc. Cuts Stake in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Victory Capital Management Inc. cut its holdings in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF) by 75.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,945 shares of the bank’s stock after selling 49,712 shares during the quarter. Victory Capital Management Inc.’s holdings in Heartland Financial USA were worth $709,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in Heartland Financial USA in the 4th quarter worth $26,000. Clarity Asset Management Inc. purchased a new position in shares of Heartland Financial USA in the fourth quarter worth about $50,000. Innealta Capital LLC purchased a new stake in Heartland Financial USA during the 2nd quarter valued at about $83,000. TFO Wealth Partners LLC grew its position in Heartland Financial USA by 37,550.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,259 shares of the bank’s stock worth $85,000 after acquiring an additional 2,253 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Heartland Financial USA by 695.2% in the 1st quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank’s stock worth $99,000 after purchasing an additional 2,454 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Transactions at Heartland Financial USA

In related news, EVP Lo B. Nestman sold 4,389 shares of Heartland Financial USA stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Heartland Financial USA Stock Performance

Shares of HTLF stock opened at $57.41 on Friday. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 34.58 and a beta of 0.95. The stock has a fifty day moving average of $53.22 and a 200 day moving average of $44.49. Heartland Financial USA, Inc. has a 52 week low of $26.44 and a 52 week high of $59.16. 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 posted its earnings results on Tuesday, July 30th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.14 by $0.01. The firm had revenue of $188.92 million during the quarter, compared to analysts’ expectations of $183.19 million. Heartland Financial USA had a net margin of 7.12% and a return on equity of 11.11%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. As a group, research analysts expect that Heartland Financial USA, Inc. will post 4.72 earnings per share for the current year.

Heartland Financial USA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.30 per share. 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 2.09%. Heartland Financial USA’s dividend payout ratio (DPR) is 72.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HTLF shares. StockNews.com began coverage on Heartland Financial USA in a research note on Saturday. They set a “hold” rating for the company. Keefe, Bruyette & Woods raised shares of Heartland Financial USA from a “market perform” rating to an “outperform” rating and increased their price target for the company from $51.00 to $54.00 in a research report on Friday, May 31st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.60.

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.