Creative Planning Grows Stock Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Creative Planning raised its position in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) by 90.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,399 shares of the bank's stock after purchasing an additional 16,808 shares during the period. Creative Planning owned about 0.08% of Heartland Financial USA worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Clarity Asset Management Inc. bought a new stake in Heartland Financial USA during the fourth quarter valued at about $50,000. Innealta Capital LLC bought a new position in shares of Heartland Financial USA during the 2nd quarter worth approximately $83,000. Meeder Asset Management Inc. lifted its position in Heartland Financial USA by 695.2% during the first quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank's stock valued at $99,000 after acquiring an additional 2,454 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Heartland Financial USA in the first quarter valued at approximately $167,000. Finally, First Affirmative Financial Network acquired a new stake in Heartland Financial USA in the second quarter valued at approximately $209,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Heartland Financial USA

In related news, EVP Lo B. Nestman sold 4,389 shares of Heartland Financial USA stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.14, for a total value of $220,064.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Heartland Financial USA in a report on Monday. They set a "hold" rating on the stock. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.60.

Heartland Financial USA Stock Performance

Heartland Financial USA stock traded up $0.77 during midday trading on Wednesday, hitting $56.79. 91,340 shares of the company were exchanged, compared to its average volume of 296,702. The business has a fifty day simple moving average of $54.19 and a two-hundred day simple moving average of $46.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.75 and a current ratio of 0.77. The firm has a market capitalization of $2.43 billion, a PE ratio of 34.21 and a beta of 0.95. Heartland Financial USA, Inc. has a fifty-two week low of $26.44 and a fifty-two week high of $59.16.

Heartland Financial USA (NASDAQ:HTLF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.01. Heartland Financial USA had a net margin of 7.12% and a return on equity of 11.11%. The business had revenue of $188.92 million for the quarter, compared to analysts' expectations of $183.19 million. During the same quarter last year, the company earned $1.09 EPS. The business's revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Heartland Financial USA, Inc. will post 4.73 earnings per share for the current year.

Heartland Financial USA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.11%. Heartland Financial USA's dividend payout ratio (DPR) is currently 72.29%.

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.