Contravisory Investment Management Inc. Takes $294,000 Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Contravisory Investment Management Inc. purchased a new stake in Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,800 shares of the bank's stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HTLF. Envestnet Asset Management Inc. lifted its stake in Heartland Financial USA by 5.1% in the second quarter. Envestnet Asset Management Inc. now owns 144,397 shares of the bank's stock valued at $6,418,000 after acquiring an additional 7,017 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Heartland Financial USA by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,384,697 shares of the bank's stock worth $105,999,000 after buying an additional 182,245 shares during the last quarter. Renaissance Technologies LLC raised its stake in Heartland Financial USA by 62.1% in the second quarter. Renaissance Technologies LLC now owns 36,800 shares of the bank's stock valued at $1,636,000 after buying an additional 14,100 shares during the period. XTX Topco Ltd acquired a new stake in shares of Heartland Financial USA in the second quarter valued at approximately $225,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Heartland Financial USA during the 2nd quarter worth approximately $2,543,000. 71.55% of the stock is owned by institutional investors.

Heartland Financial USA Stock Performance

Shares of HTLF traded up $1.19 during mid-day trading on Friday, hitting $65.78. 139,802 shares of the company's stock were exchanged, compared to its average volume of 239,759. 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 firm has a market cap of $2.82 billion, a price-to-earnings ratio of 36.75 and a beta of 0.98. The stock's 50-day simple moving average is $64.81 and its 200-day simple moving average is $57.84. Heartland Financial USA, Inc. has a 52 week low of $32.03 and a 52 week high of $70.27.

Heartland Financial USA (NASDAQ:HTLF - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $1.17 EPS for the quarter, hitting analysts' consensus estimates of $1.17. Heartland Financial USA had a return on equity of 10.81% 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 last year, the business earned $1.12 earnings per share. On average, equities research analysts expect that Heartland Financial USA, Inc. will post 4.57 EPS for the current year.

Heartland Financial USA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Tuesday, January 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, January 14th. Heartland Financial USA's dividend payout ratio is 67.04%.

Insider Activity at Heartland Financial USA

In related news, Director John K. Schmidt sold 22,500 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $68.32, for a total value of $1,537,200.00. Following the completion of the transaction, the director now owns 60,541 shares in the company, valued at $4,136,161.12. This trade represents a 27.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark A. Frank sold 432 shares of Heartland Financial USA stock in a transaction 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 approximately $71,274.40. This trade represents a 28.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,743 shares of company stock valued at $1,958,839 in the last quarter. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Heartland Financial USA in a research report on Friday, January 3rd. They set a "hold" rating for the company. Two equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.60.

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.