Intech Investment Management LLC Invests $426,000 in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Intech Investment Management LLC purchased a new stake in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,514 shares of the bank's stock, valued at approximately $426,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Water Island Capital LLC acquired a new stake in shares of Heartland Financial USA during the 2nd quarter worth approximately $800,000. Dark Forest Capital Management LP acquired a new stake in Heartland Financial USA in the second quarter valued at about $601,000. Magnetar Financial LLC bought a new stake in Heartland Financial USA during the 2nd quarter worth approximately $46,626,000. Slotnik Capital LLC bought a new stake in shares of Heartland Financial USA in the 2nd quarter valued at $13,714,000. Finally, Envestnet Asset Management Inc. boosted its stake in Heartland Financial USA by 5.1% during the second quarter. Envestnet Asset Management Inc. now owns 144,397 shares of the bank's stock worth $6,418,000 after acquiring an additional 7,017 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling

In other news, EVP Mark A. Frank sold 432 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $67.24, for a total transaction of $29,047.68. Following the transaction, the executive vice president now owns 1,060 shares in the company, valued at $71,274.40. This trade represents a 28.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John K. Schmidt sold 22,500 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $68.32, for a total transaction of $1,537,200.00. Following the transaction, the director now owns 60,541 shares of the company's stock, valued at $4,136,161.12. This represents a 27.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Heartland Financial USA Trading Up 1.1 %

NASDAQ HTLF traded up $0.77 during trading hours on Tuesday, hitting $68.09. 136,954 shares of the company were exchanged, compared to its average volume of 283,859. The stock has a market cap of $2.92 billion, a PE ratio of 38.04 and a beta of 0.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $61.14 and a 200 day moving average price of $53.31. Heartland Financial USA, Inc. has a 52 week low of $31.47 and a 52 week high of $70.27.

Heartland Financial USA (NASDAQ:HTLF - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.79% and a return on equity of 10.81%. The company had revenue of $272.79 million during the quarter, compared to analyst estimates of $189.51 million. During the same quarter last year, the business posted $1.12 EPS. Analysts forecast that Heartland Financial USA, Inc. will post 4.57 earnings per share for the current fiscal year.

Heartland Financial USA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, November 12th. Heartland Financial USA's dividend payout ratio is presently 67.04%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Heartland Financial USA in a research report on Monday. They set a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Heartland Financial USA currently has a consensus rating of "Moderate Buy" and a consensus price target 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.