Raymond James & Associates Trims Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Raymond James & Associates lessened its stake in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF) by 21.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,409 shares of the bank’s stock after selling 5,625 shares during the quarter. Raymond James & Associates’ holdings in Heartland Financial USA were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Heartland Financial USA by 10.5% during the 1st quarter. BlackRock Inc. now owns 5,628,086 shares of the bank’s stock valued at $215,893,000 after buying an additional 537,087 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Heartland Financial USA by 6.6% during the first quarter. Vanguard Group Inc. now owns 3,028,089 shares of the bank’s stock worth $144,834,000 after purchasing an additional 187,955 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Heartland Financial USA by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,277,457 shares of the bank’s stock worth $87,362,000 after purchasing an additional 99,372 shares in the last quarter. Dubuque Bank & Trust Co. grew its holdings in shares of Heartland Financial USA by 3.2% during the second quarter. Dubuque Bank & Trust Co. now owns 1,693,170 shares of the bank’s stock worth $47,189,000 after purchasing an additional 52,133 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Heartland Financial USA by 8.2% during the first quarter. State Street Corp now owns 1,103,156 shares of the bank’s stock worth $52,764,000 after purchasing an additional 83,233 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Heartland Financial USA Stock Performance

Shares of HTLF stock opened at $28.93 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. Heartland Financial USA, Inc. has a fifty-two week low of $26.10 and a fifty-two week high of $51.60. The stock has a 50 day moving average price of $29.68 and a two-hundred day moving average price of $30.14. The company has a market capitalization of $1.23 billion, a P/E ratio of 6.09 and a beta of 1.06.

Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings data on Monday, October 30th. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $273.82 million during the quarter, compared to the consensus estimate of $177.63 million. Heartland Financial USA had a return on equity of 12.69% and a net margin of 20.61%. During the same quarter in the previous year, the company posted $1.31 earnings per share. Analysts expect that Heartland Financial USA, Inc. will post 4.52 earnings per share for the current year.

Heartland Financial USA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.15%. Heartland Financial USA’s dividend payout ratio is presently 25.26%.

Analyst Ratings Changes

HTLF has been the subject of several recent analyst reports. Piper Sandler cut their price objective on Heartland Financial USA from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. StockNews.com assumed coverage on Heartland Financial USA in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Stephens cut their target price on Heartland Financial USA from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, November 1st. Finally, DA Davidson boosted their price objective on Heartland Financial USA from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Heartland Financial USA presently has a consensus rating of “Hold” and an average price target of $39.50.

Heartland Financial USA Company Profile

Heartland Financial USA, Inc, a multi-bank holding company, provides commercial, small business, and consumer banking services to individuals and businesses in the United States. It also accepts various deposit products, including checking and other demand deposit accounts; NOW, savings, money market, individual retirement; certificates of deposit; and other time deposits.