Raymond James Financial Services Advisors Inc. Cuts Stock Holdings in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Raymond James Financial Services Advisors Inc. decreased its holdings in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF) by 38.5% during the fourth quarter, HoldingsChannel reports. The firm owned 7,106 shares of the bank’s stock after selling 4,454 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Heartland Financial USA were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Heartland Financial USA by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,144,058 shares of the bank’s stock worth $92,530,000 after buying an additional 30,497 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Heartland Financial USA by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 446,883 shares of the bank’s stock worth $13,152,000 after buying an additional 34,571 shares during the last quarter. FMR LLC grew its position in shares of Heartland Financial USA by 23.3% in the 3rd quarter. FMR LLC now owns 435,990 shares of the bank’s stock worth $12,831,000 after buying an additional 82,514 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Heartland Financial USA by 2.5% in the 3rd quarter. New York State Common Retirement Fund now owns 394,952 shares of the bank’s stock worth $11,623,000 after buying an additional 9,491 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Heartland Financial USA by 15.0% in the 3rd quarter. American Century Companies Inc. now owns 365,513 shares of the bank’s stock worth $10,757,000 after buying an additional 47,745 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Heartland Financial USA Stock Up 0.8 %

HTLF stock opened at $35.07 on Tuesday. The firm has a 50 day moving average of $33.79 and a 200 day moving average of $33.52. The stock has a market capitalization of $1.50 billion, a PE ratio of 20.75 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.20. Heartland Financial USA, Inc. has a 52 week low of $26.10 and a 52 week high of $39.39.

Heartland Financial USA (NASDAQ:HTLF) last released its earnings results on Monday, January 29th. The bank reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.40. Heartland Financial USA had a net margin of 8.57% and a return on equity of 11.56%. The company had revenue of $144.09 million during the quarter, compared to analysts’ expectations of $178.60 million. During the same period last year, the business earned $1.37 EPS. Sell-side analysts forecast that Heartland Financial USA, Inc. will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HTLF shares. Piper Sandler lifted 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 report on Tuesday, January 30th. Raymond James raised shares of Heartland Financial USA from a “market perform” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a research report on Thursday, February 29th. Stephens reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Heartland Financial USA in a research report on Tuesday, January 30th. Finally, TheStreet cut shares of Heartland Financial USA from a “b” rating to a “c+” rating in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.80.

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.