Heartland Financial USA (NASDAQ:HTLF) Reaches New 12-Month High – Should You Buy?

Heartland Financial USA, Inc. (NASDAQ:HTLF)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $61.56 and last traded at $61.35, with a volume of 66194 shares changing hands. The stock had previously closed at $57.79.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Heartland Financial USA in a report on Thursday. They issued a “hold” rating on the stock. Two investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.60.

Heartland Financial USA Stock Performance

The company has a current ratio of 0.77, a quick ratio of 0.75 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average is $56.66 and its two-hundred day moving average is $49.15. The stock has a market capitalization of $2.51 billion, a P/E ratio of 33.15 and a beta of 0.95.

Heartland Financial USA (NASDAQ:HTLF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $1.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.17. Heartland Financial USA had a return on equity of 11.04% and a net margin of 8.79%. The company had revenue of $272.79 million for the quarter, compared to analysts’ expectations of $189.51 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. As a group, sell-side analysts anticipate that Heartland Financial USA, Inc. will post 4.72 EPS for the current fiscal year.

Heartland Financial USA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, November 12th. Heartland Financial USA’s dividend payout ratio (DPR) is 67.04%.

Insider Buying and Selling

In other Heartland Financial USA news, EVP Lo B. Nestman sold 4,389 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were 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 SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Heartland Financial USA

Several hedge funds have recently modified their holdings of HTLF. Magnetar Financial LLC bought a new stake in Heartland Financial USA in the second quarter worth about $46,626,000. Millennium Management LLC raised its holdings in shares of Heartland Financial USA by 2,309.0% in the 2nd quarter. Millennium Management LLC now owns 710,923 shares of the bank’s stock worth $31,601,000 after purchasing an additional 681,412 shares in the last quarter. Stieven Capital Advisors L.P. lifted its stake in Heartland Financial USA by 506.3% during the first 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 last quarter. Slotnik Capital LLC bought a new stake in Heartland Financial USA during the second quarter worth approximately $13,714,000. Finally, Squarepoint Ops LLC acquired a new position in Heartland Financial USA in the second quarter worth approximately $10,601,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

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.