Geode Capital Management LLC Increases Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Geode Capital Management LLC increased its stake in Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,023,370 shares of the bank's stock after acquiring an additional 47,480 shares during the quarter. Geode Capital Management LLC owned approximately 2.39% of Heartland Financial USA worth $58,036,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HTLF. USA Financial Formulas grew its holdings in Heartland Financial USA by 28.0% in the 3rd quarter. USA Financial Formulas now owns 1,060 shares of the bank's stock valued at $60,000 after buying an additional 232 shares in the last quarter. Innealta Capital LLC acquired a new stake in Heartland Financial USA during the second quarter worth about $83,000. SG Americas Securities LLC purchased a new position in Heartland Financial USA during the third quarter worth about $125,000. Blue Trust Inc. boosted its holdings in Heartland Financial USA by 2,193.4% in the 3rd quarter. Blue Trust Inc. now owns 2,775 shares of the bank's stock valued at $157,000 after purchasing an additional 2,654 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Heartland Financial USA in the 2nd quarter valued at about $225,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Heartland Financial USA Stock Performance

Shares of HTLF traded down $0.22 during mid-day trading on Monday, hitting $62.09. 159,392 shares of the company's stock were exchanged, compared to its average volume of 281,632. The business's 50 day moving average is $63.92 and its two-hundred day moving average is $55.51. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.66 billion, a P/E ratio of 34.69 and a beta of 0.97. Heartland Financial USA, Inc. has a fifty-two week low of $32.03 and a fifty-two 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 EPS for the quarter, hitting 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 the consensus estimate of $189.51 million. During the same quarter in the prior year, the firm earned $1.12 EPS. On average, equities analysts expect that Heartland Financial USA, Inc. will post 4.57 earnings per share for the current year.

Heartland Financial USA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, November 12th. Heartland Financial USA's dividend payout ratio (DPR) is 67.04%.

Insider Transactions at Heartland Financial USA

In other Heartland Financial USA news, EVP Mark A. Frank sold 432 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $67.24, for a total value of $29,047.68. Following the sale, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John K. Schmidt sold 22,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 60,541 shares in the company, 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. In the last three months, insiders sold 28,743 shares of company stock valued at $1,958,839. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Heartland Financial USA in a research report on Wednesday, December 18th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Heartland Financial USA currently has an average rating of "Moderate Buy" and an average target price 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.