June 22, 2021

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Heartland Financial USA (NASDAQ:HTLF) Downgraded by Zacks Investment Research

4 min read

Zacks Investment Research downgraded shares of Heartland Financial USA (NASDAQ:HTLF) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Heartland Financial USA, Inc. is a multi-bank holding company operating through bank subsidiaries in the states of Iowa, Wisconsin, Illinois and New Mexico and a federal savings bank subsidiary in Iowa. The Bank Subsidiaries provide full-service retail banking. Deposit products include checking and other demand deposit accounts, savings accounts, money market accounts, individual retirement accounts and other time deposits. Loans include commercial and industrial, agricultural, real estate mortgage, consumer, home equity, credit cards and lines of credit. “

Several other research analysts have also weighed in on HTLF. DA Davidson raised shares of Heartland Financial USA from a neutral rating to a buy rating and raised their price objective for the stock from $38.00 to $49.00 in a report on Thursday, December 17th. TheStreet raised shares of Heartland Financial USA from a c+ rating to a b- rating in a report on Monday, November 2nd. BidaskClub upgraded shares of Heartland Financial USA from a sell rating to a hold rating in a research report on Friday, October 23rd. Raymond James restated a hold rating on shares of Heartland Financial USA in a research report on Wednesday, September 9th. Finally, Piper Sandler raised their price target on shares of Heartland Financial USA from $38.00 to $39.00 and gave the stock an overweight rating in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Heartland Financial USA presently has a consensus rating of Hold and an average price target of $41.67.

Shares of HTLF stock opened at $43.70 on Wednesday. The firm has a market cap of $1.61 billion, a P/E ratio of 12.07 and a beta of 1.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.71 and a quick ratio of 0.70. Heartland Financial USA has a 1-year low of $25.26 and a 1-year high of $51.85. The firm has a fifty day moving average of $41.09 and a two-hundred day moving average of $34.91.

Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings data on Saturday, October 31st. The bank reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.31. The company had revenue of $153.71 million during the quarter, compared to analyst estimates of $149.85 million. Heartland Financial USA had a net margin of 21.09% and a return on equity of 9.66%. During the same period last year, the business earned $0.94 EPS. On average, sell-side analysts expect that Heartland Financial USA will post 4.03 EPS for the current year.

In other news, Chairman Lynn B. Fuller acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $32.18 per share, for a total transaction of $64,360.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert B. Engel acquired 1,524 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was purchased at an average price of $32.51 per share, for a total transaction of $49,545.24. Company insiders own 6.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new stake in shares of Heartland Financial USA during the 2nd quarter worth about $36,000. First Bank & Trust raised its position in shares of Heartland Financial USA by 728.7% during the 3rd quarter. First Bank & Trust now owns 1,674 shares of the bank’s stock worth $50,000 after buying an additional 1,472 shares in the last quarter. CWM LLC raised its position in shares of Heartland Financial USA by 249.8% during the 3rd quarter. CWM LLC now owns 1,924 shares of the bank’s stock worth $58,000 after buying an additional 1,374 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Heartland Financial USA during the 1st quarter worth about $124,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Heartland Financial USA by 29.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,254 shares of the bank’s stock worth $128,000 after buying an additional 967 shares in the last quarter. Hedge funds and other institutional investors own 53.00% of the company’s stock.

Heartland Financial USA Company Profile

Heartland Financial USA, Inc, a multi-bank holding company, provides commercial, small business, and consumer banking services to individuals and businesses in the United States. It accepts various deposit products, including checking and other demand deposit accounts; NOW, savings, money market, individual retirement, and health savings accounts; certificates of deposit; and other time deposits.

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