Wolverine Asset Management LLC Invests $1.31 Million in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Wolverine Asset Management LLC acquired a new stake in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,453 shares of the bank’s stock, valued at approximately $1,309,000. Wolverine Asset Management LLC owned about 0.07% of Heartland Financial USA at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Heartland Financial USA during the fourth quarter valued at $26,000. Clarity Asset Management Inc. purchased a new stake in shares of Heartland Financial USA during the fourth quarter valued at $50,000. Innealta Capital LLC purchased a new stake in shares of Heartland Financial USA during the second quarter valued at $83,000. TFO Wealth Partners LLC grew its holdings in shares of Heartland Financial USA by 37,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,259 shares of the bank’s stock valued at $85,000 after buying an additional 2,253 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Heartland Financial USA by 695.2% during the first quarter. Meeder Asset Management Inc. now owns 2,807 shares of the bank’s stock valued at $99,000 after buying an additional 2,454 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Heartland Financial USA

In other news, EVP Lo B. Nestman sold 4,389 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.14, for a total transaction of $220,064.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robert B. Engel sold 5,928 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $25.20, for a total transaction of $149,385.60. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $277,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lo B. Nestman sold 4,389 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.14, for a total transaction of $220,064.46. The disclosure for this sale can be found here. Insiders have sold a total of 10,318 shares of company stock valued at $369,475 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Heartland Financial USA Price Performance

NASDAQ:HTLF opened at $54.75 on Thursday. Heartland Financial USA, Inc. has a one year low of $26.44 and a one year high of $56.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.75 and a current ratio of 0.77. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 32.98 and a beta of 0.96. The firm’s fifty day moving average is $50.60 and its two-hundred day moving average is $42.62.

Heartland Financial USA (NASDAQ:HTLF) last posted its quarterly earnings results on Tuesday, July 30th. The bank reported $1.15 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 company had revenue of $188.92 million for the quarter, compared to analyst estimates of $183.19 million. During the same period in the prior year, the company earned $1.09 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Research analysts expect that Heartland Financial USA, Inc. will post 4.72 EPS for the current year.

Heartland Financial USA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Tuesday, August 13th. Heartland Financial USA’s payout ratio is currently 72.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HTLF shares. StockNews.com assumed coverage on shares of Heartland Financial USA in a report on Thursday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods raised shares of Heartland Financial USA from a “market perform” rating to an “outperform” rating and upped their price target for the company from $51.00 to $54.00 in a report on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.