Heartland Financial USA (NASDAQ:HTLF) Price Target Raised to $45.00

Heartland Financial USA (NASDAQ:HTLF) had its target price boosted by DA Davidson from $36.00 to $45.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage 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.

Other equities research analysts also recently issued research reports about the company. Raymond James raised Heartland Financial USA from a market perform rating to a strong-buy rating and set a $41.00 price objective for the company in a report on Thursday, February 29th. Stephens restated an overweight rating and set a $45.00 price objective on shares of Heartland Financial USA in a report on Tuesday, January 30th. Keefe, Bruyette & Woods upped their target price on Heartland Financial USA from $41.00 to $51.00 and gave the company a market perform rating in a research report on Tuesday. Piper Sandler lifted their price target on Heartland Financial USA from $40.00 to $43.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. Finally, TheStreet lowered Heartland Financial USA from a b rating to a c+ rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Heartland Financial USA presently has a consensus rating of Moderate Buy and a consensus target price of $45.00.

Heartland Financial USA Stock Performance

Shares of HTLF stock opened at $43.94 on Tuesday. Heartland Financial USA has a 12 month low of $26.10 and a 12 month high of $44.04. The company’s fifty day simple moving average is $34.90 and its 200-day simple moving average is $34.08. The firm has a market cap of $1.88 billion, a PE ratio of 26.47 and a beta of 0.98. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.20.

Heartland Financial USA (NASDAQ:HTLF) last issued its quarterly earnings results on Monday, April 29th. The bank reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.08. Heartland Financial USA had a net margin of 8.17% and a return on equity of 11.50%. The firm had revenue of $279.39 million for the quarter, compared to analyst estimates of $182.73 million. During the same period in the previous year, the business earned $1.22 EPS. Equities research analysts expect that Heartland Financial USA will post 4.49 EPS for the current fiscal year.

Heartland Financial USA Dividend Announcement

The business also recently announced 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 is Friday, May 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. Heartland Financial USA’s payout ratio is presently 72.29%.

Institutional Investors Weigh In On Heartland Financial USA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Heartland Financial USA by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 3,232,944 shares of the bank’s stock worth $121,591,000 after acquiring an additional 88,886 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Heartland Financial USA by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,043,545 shares of the bank’s stock worth $76,860,000 after acquiring an additional 62,177 shares in the last quarter. HTLF Bank acquired a new stake in Heartland Financial USA in the 4th quarter valued at $55,623,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Heartland Financial USA by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 478,927 shares of the bank’s stock valued at $18,012,000 after buying an additional 32,044 shares during the last quarter. Finally, FMR LLC increased its holdings in Heartland Financial USA by 23.3% during the 3rd quarter. FMR LLC now owns 435,990 shares of the bank’s stock worth $12,831,000 after purchasing an additional 82,514 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.