Assenagon Asset Management S.A. Invests $11.40 Million in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Assenagon Asset Management S.A. purchased a new stake in Heartland Financial USA, Inc. (NASDAQ:HTLF - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 201,125 shares of the bank's stock, valued at approximately $11,404,000. Assenagon Asset Management S.A. owned approximately 0.47% of Heartland Financial USA as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas boosted its stake in Heartland Financial USA by 28.0% in the 3rd 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 period. Innealta Capital LLC bought a new stake in Heartland Financial USA during the 2nd quarter worth approximately $83,000. Meeder Asset Management Inc. increased its holdings in Heartland Financial USA by 695.2% during the 1st quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank's stock worth $99,000 after acquiring an additional 2,454 shares during the period. SG Americas Securities LLC bought a new position in Heartland Financial USA in the 3rd quarter valued at $125,000. Finally, Blue Trust Inc. increased its holdings in shares of 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 period. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Heartland Financial USA in a research note on Wednesday, October 23rd. They set a "hold" rating for the company. Two research 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.60.

Insiders Place Their Bets

In related news, EVP Lo B. Nestman sold 4,389 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.14, for a total transaction of $220,064.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Heartland Financial USA Price Performance

NASDAQ:HTLF traded up $1.80 during midday trading on Monday, hitting $58.09. The company had a trading volume of 270,262 shares, compared to its average volume of 289,872. The company has a market capitalization of $2.49 billion, a PE ratio of 34.99 and a beta of 0.95. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 0.19. Heartland Financial USA, Inc. has a 52-week low of $26.44 and a 52-week high of $61.46. The stock's fifty day moving average price is $56.27 and its 200-day moving average price is $48.83.

Heartland Financial USA (NASDAQ:HTLF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.01. The firm had revenue of $188.92 million during the quarter, compared to analysts' expectations of $183.19 million. Heartland Financial USA had a return on equity of 11.11% and a net margin of 7.12%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. As a group, research analysts expect that Heartland Financial USA, Inc. will post 4.72 earnings per share for the current year.

Heartland Financial USA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, November 12th. Heartland Financial USA's payout ratio is currently 72.29%.

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.