Assenagon Asset Management S.A. Takes Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Assenagon Asset Management S.A. purchased a new stake in Heartland Financial USA, Inc. (NASDAQ:HTLF) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 201,125 shares of the bank’s stock, valued at approximately $11,404,000. Assenagon Asset Management S.A. owned 0.47% of Heartland Financial USA as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. USA Financial Formulas increased its holdings in shares of Heartland Financial USA by 28.0% in the third quarter. USA Financial Formulas now owns 1,060 shares of the bank’s stock valued at $60,000 after purchasing an additional 232 shares during the period. Innealta Capital LLC acquired a new position in Heartland Financial USA in the 2nd quarter valued at $83,000. Meeder Asset Management Inc. raised its position in Heartland Financial USA by 695.2% during the 1st quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank’s stock worth $99,000 after buying an additional 2,454 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Heartland Financial USA in the 3rd quarter worth $125,000. Finally, Blue Trust Inc. boosted its holdings in shares of Heartland Financial USA by 2,193.4% in the third quarter. Blue Trust Inc. now owns 2,775 shares of the bank’s stock valued at $157,000 after acquiring an additional 2,654 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Heartland Financial USA Stock Performance

Shares of HTLF opened at $56.29 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 0.19. Heartland Financial USA, Inc. has a 52-week low of $26.44 and a 52-week high of $61.46. The company has a 50-day simple moving average of $56.17 and a 200-day simple moving average of $48.66. The company has a market capitalization of $2.41 billion, a PE ratio of 33.91 and a beta of 0.95.

Heartland Financial USA (NASDAQ:HTLF) last issued its earnings results on Tuesday, July 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. The company had revenue of $188.92 million during the quarter, compared to analysts’ expectations of $183.19 million. Heartland Financial USA had a net margin of 7.12% and a return on equity of 11.11%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. Equities research analysts predict that Heartland Financial USA, Inc. will post 4.72 earnings per share for the current fiscal year.

Heartland Financial USA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.20 dividend on an annualized basis and a yield of 2.13%. Heartland Financial USA’s payout ratio is 72.29%.

Insider Buying and Selling at Heartland Financial USA

In other news, EVP Lo B. Nestman sold 4,389 shares of Heartland Financial USA stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.14, for a total transaction of $220,064.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Heartland Financial USA in a research report on Wednesday, October 23rd. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.60.

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.