Principal Financial Group Inc. Boosts Stock Position in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Principal Financial Group Inc. boosted its holdings in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF) by 8.0% during the third quarter, Holdings Channel.com reports. The firm owned 28,679 shares of the bank’s stock after acquiring an additional 2,136 shares during the period. Principal Financial Group Inc.’s holdings in Heartland Financial USA were worth $1,626,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HTLF. USA Financial Formulas increased its holdings in shares of Heartland Financial USA by 28.0% in the 3rd quarter. USA Financial Formulas now owns 1,060 shares of the bank’s stock worth $60,000 after buying an additional 232 shares during the last quarter. SG Americas Securities LLC bought a new stake in Heartland Financial USA during the third quarter worth approximately $125,000. Blue Trust Inc. raised its position in Heartland Financial USA by 2,193.4% during the third quarter. Blue Trust Inc. now owns 2,775 shares of the bank’s stock valued at $157,000 after purchasing an additional 2,654 shares during the period. XTX Topco Ltd bought a new stake in shares of Heartland Financial USA in the 2nd quarter valued at approximately $225,000. Finally, HighTower Advisors LLC purchased a new position in shares of Heartland Financial USA in the 3rd quarter worth approximately $225,000. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

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

Heartland Financial USA Price Performance

HTLF opened at $61.96 on Friday. The business has a fifty day moving average of $64.58 and a 200 day moving average of $56.76. The stock has a market cap of $2.66 billion, a P/E ratio of 34.61 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. Heartland Financial USA, Inc. has a 52-week low of $32.03 and a 52-week high of $70.27.

Heartland Financial USA (NASDAQ:HTLF) last issued its earnings results on Tuesday, October 29th. The bank reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.17. The firm had revenue of $272.79 million during the quarter, compared to analyst estimates of $189.51 million. Heartland Financial USA had a net margin of 8.79% and a return on equity of 10.81%. During the same period in the previous year, the firm earned $1.12 earnings per share. As a group, sell-side analysts anticipate that Heartland Financial USA, Inc. will post 4.57 EPS for the current year.

Heartland Financial USA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, January 14th. Heartland Financial USA’s dividend payout ratio (DPR) is presently 67.04%.

Insider Activity

In other Heartland Financial USA news, Director Jennifer K. Hopkins sold 5,811 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $67.56, for a total transaction of $392,591.16. Following the transaction, the director now owns 6,963 shares of the company’s stock, valued at approximately $470,420.28. This trade represents a 45.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark A. Frank sold 432 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $67.24, for a total transaction of $29,047.68. Following the completion of the sale, the executive vice president now owns 1,060 shares of the company’s stock, valued at approximately $71,274.40. This represents a 28.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,743 shares of company stock valued at $1,958,839. Corporate insiders own 1.80% 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.