Fmr LLC Reduces Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

FMR LLC reduced its position in Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 502,768 shares of the bank's stock after selling 45,400 shares during the quarter. FMR LLC owned about 1.17% of Heartland Financial USA worth $28,507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HTLF. USA Financial Formulas grew its holdings in Heartland Financial USA by 28.0% in the third quarter. USA Financial Formulas now owns 1,060 shares of the bank's stock worth $60,000 after purchasing an additional 232 shares during the last quarter. Innealta Capital LLC purchased a new position in Heartland Financial USA in the second quarter worth $83,000. SG Americas Securities LLC purchased a new position in Heartland Financial USA in the third quarter worth $125,000. Blue Trust Inc. grew its holdings in Heartland Financial USA by 2,193.4% in the third quarter. Blue Trust Inc. now owns 2,775 shares of the bank's stock worth $157,000 after purchasing an additional 2,654 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Heartland Financial USA in the second quarter worth $225,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Heartland Financial USA

In related news, Director John K. Schmidt sold 22,500 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $68.32, for a total transaction of $1,537,200.00. Following the completion of the transaction, the director now directly owns 60,541 shares in the company, valued at $4,136,161.12. The trade was a 27.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark A. Frank sold 432 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $67.24, for a total transaction of $29,047.68. Following the completion of the transaction, the executive vice president now owns 1,060 shares of the company's stock, 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. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Heartland Financial USA in a report on Tuesday. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Heartland Financial USA currently has a consensus rating of "Moderate Buy" and an average target price of $45.60.

Heartland Financial USA Stock Performance

Shares of HTLF traded up $0.57 during trading hours on Tuesday, reaching $67.63. 136,319 shares of the company traded hands, compared to its average volume of 281,624. The stock has a market capitalization of $2.90 billion, a P/E ratio of 37.78 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. Heartland Financial USA, Inc. has a 12-month low of $32.03 and a 12-month high of $70.27. The business has a fifty day moving average price of $62.58 and a 200-day moving average price of $54.29.

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. The firm had revenue of $272.79 million for the quarter, compared to analyst estimates of $189.51 million. Heartland Financial USA had a net margin of 8.79% and a return on equity of 10.81%. During the same period in the previous year, the company earned $1.12 earnings per share. Equities analysts anticipate that Heartland Financial USA, Inc. will post 4.57 EPS for the current fiscal year.

Heartland Financial USA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.77%. Heartland Financial USA's dividend payout ratio is presently 67.04%.

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.