Heartland Financial USA Inc (NASDAQ:HTLF) – Research analysts at Piper Jaffray Companies lowered their Q3 2019 earnings estimates for Heartland Financial USA in a report released on Monday, April 29th, Zacks Investment Research reports. Piper Jaffray Companies analyst N. Race now anticipates that the bank will post earnings of $1.05 per share for the quarter, down from their previous forecast of $1.14. Piper Jaffray Companies also issued estimates for Heartland Financial USA’s Q4 2019 earnings at $1.10 EPS, FY2019 earnings at $4.02 EPS, Q1 2020 earnings at $1.04 EPS, Q2 2020 earnings at $1.08 EPS, Q3 2020 earnings at $1.09 EPS, Q4 2020 earnings at $1.12 EPS and FY2020 earnings at $4.33 EPS.
HTLF has been the subject of a number of other research reports. Zacks Investment Research upgraded Heartland Financial USA from a “sell” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, April 10th. ValuEngine cut Heartland Financial USA from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Heartland Financial USA has an average rating of “Hold” and an average target price of $50.00.
Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings results on Monday, April 29th. The bank reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.06). The firm had revenue of $129.70 million during the quarter, compared to analysts’ expectations of $131.55 million. Heartland Financial USA had a net margin of 20.99% and a return on equity of 9.57%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS.
Several large investors have recently made changes to their positions in HTLF. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Heartland Financial USA during the 1st quarter worth approximately $33,000. Pearl River Capital LLC increased its holdings in Heartland Financial USA by 187.8% during the 1st quarter. Pearl River Capital LLC now owns 964 shares of the bank’s stock worth $42,000 after purchasing an additional 629 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Heartland Financial USA during the 4th quarter worth approximately $60,000. Quantamental Technologies LLC purchased a new stake in Heartland Financial USA during the 4th quarter worth approximately $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Heartland Financial USA by 28.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,171 shares of the bank’s stock worth $93,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 55.58% of the company’s stock.
In related news, EVP Michael J. Coyle sold 1,000 shares of Heartland Financial USA stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $48.57, for a total transaction of $48,570.00. Following the completion of the sale, the executive vice president now owns 9,386 shares in the company, valued at approximately $455,878.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, May 16th. Heartland Financial USA’s dividend payout ratio is presently 18.18%.
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 accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, health savings accounts, and other time deposits.
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