DA Davidson Raises Heartland Financial USA (NASDAQ:HTLF) Price Target to $45.00

Heartland Financial USA (NASDAQ:HTLF) had its target price hoisted by DA Davidson from $36.00 to $45.00 in a research note issued to investors on Tuesday, Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Heartland Financial USA’s FY2024 earnings at $4.59 EPS.

A number of other brokerages also recently commented on HTLF. Raymond James upgraded shares of Heartland Financial USA from a market perform rating to a strong-buy rating and set a $41.00 price target for the company in a report on Thursday, February 29th. TheStreet downgraded Heartland Financial USA from a b rating to a c+ rating in a report on Tuesday, January 30th. Piper Sandler raised their price objective on Heartland Financial USA from $40.00 to $43.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. Stephens reiterated an overweight rating and issued a $45.00 target price on shares of Heartland Financial USA in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods raised their price target on Heartland Financial USA from $41.00 to $51.00 and gave the stock a market perform rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $45.00.

Heartland Financial USA Price Performance

Shares of HTLF stock traded up $0.68 during trading hours on Tuesday, hitting $43.94. The company’s stock had a trading volume of 768,252 shares, compared to its average volume of 325,298. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $34.90 and a 200-day moving average of $34.08. Heartland Financial USA has a twelve month low of $26.10 and a twelve month high of $44.04. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 26.47 and a beta of 0.98.

Heartland Financial USA (NASDAQ:HTLF) last announced its earnings results on Monday, April 29th. The bank reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Heartland Financial USA had a return on equity of 11.50% and a net margin of 8.17%. The firm had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $182.73 million. During the same quarter in the prior year, the firm earned $1.22 EPS. As a group, equities research analysts anticipate that Heartland Financial USA will post 4.49 EPS for the current year.

Heartland Financial USA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.20 annualized dividend and a yield of 2.73%. Heartland Financial USA’s dividend payout ratio is presently 72.29%.

Hedge Funds Weigh In On Heartland Financial USA

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Heartland Financial USA in the third quarter valued at approximately $232,000. Raymond James & Associates increased its position in shares of Heartland Financial USA by 1.8% in the third quarter. Raymond James & Associates now owns 20,785 shares of the bank’s stock worth $612,000 after acquiring an additional 376 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Heartland Financial USA by 5.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,560 shares of the bank’s stock valued at $340,000 after acquiring an additional 593 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Heartland Financial USA by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 292,015 shares of the bank’s stock valued at $8,594,000 after acquiring an additional 4,217 shares in the last quarter. Finally, Bailard Inc. lifted its holdings in shares of Heartland Financial USA by 5.9% during the 3rd quarter. Bailard Inc. now owns 23,465 shares of the bank’s stock valued at $691,000 after acquiring an additional 1,300 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.