Heartland Financial USA, Inc. (NASDAQ:HTLF) Sees Significant Decrease in Short Interest

Heartland Financial USA, Inc. (NASDAQ:HTLF) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 893,500 shares, a decline of 5.1% from the September 15th total of 941,800 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 237,000 shares, the short-interest ratio is presently 3.8 days.

Insiders Place Their Bets

In related news, EVP Lo B. Nestman sold 4,389 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.14, for a total value of $220,064.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Heartland Financial USA

Large investors have recently bought and sold shares of the business. USA Financial Formulas grew its holdings in shares of Heartland Financial USA by 28.0% during the third 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 last quarter. Innealta Capital LLC acquired a new position in shares of Heartland Financial USA during the second quarter worth approximately $83,000. SG Americas Securities LLC bought a new stake in shares of Heartland Financial USA during the third quarter valued at approximately $125,000. Meeder Asset Management Inc. increased its holdings in shares of Heartland Financial USA by 695.2% in the first quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank’s stock valued at $99,000 after purchasing an additional 2,454 shares in the last quarter. Finally, High Note Wealth LLC acquired a new position in Heartland Financial USA during the 3rd quarter worth $238,000. 71.55% of the stock is currently owned by institutional investors.

Heartland Financial USA Price Performance

Shares of NASDAQ:HTLF opened at $60.67 on Friday. The business’s 50 day moving average is $55.14 and its 200-day moving average is $47.37. The company has a current ratio of 0.77, a quick ratio of 0.75 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.60 billion, a PE ratio of 36.55 and a beta of 0.95. Heartland Financial USA has a 1-year low of $26.44 and a 1-year high of $61.46.

Heartland Financial USA (NASDAQ:HTLF) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.01. Heartland Financial USA had a net margin of 7.12% and a return on equity of 11.11%. The firm had revenue of $188.92 million for the quarter, compared to analyst estimates of $183.19 million. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts predict that Heartland Financial USA will post 4.72 earnings per share for the current year.

Heartland Financial USA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.20 annualized dividend and a yield of 1.98%. Heartland Financial USA’s dividend payout ratio is 72.29%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Heartland Financial USA in a research report on Tuesday. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.60.

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.