Nuveen Asset Management LLC Lowers Stake in Heartland Financial USA, Inc. (NASDAQ:HTLF)

Posted by Defense World Staff on Mar 2nd, 2023

Nuveen Asset Management LLC lowered its position in shares of Heartland Financial USA, Inc. (NASDAQ:HTLF – Get Rating) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 590,085 shares of the bank’s stock after selling 885 shares during the quarter. Nuveen Asset Management LLC owned 1.39% of Heartland Financial USA worth $25,587,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HTLF. Mesirow Institutional Investment Management Inc. purchased a new position in Heartland Financial USA during the third quarter valued at approximately $9,915,000. Vanguard Group Inc. lifted its holdings in Heartland Financial USA by 6.6% during the first quarter. Vanguard Group Inc. now owns 3,028,089 shares of the bank’s stock valued at $144,834,000 after purchasing an additional 187,955 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Heartland Financial USA by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,838,023 shares of the bank’s stock valued at $87,913,000 after purchasing an additional 102,441 shares in the last quarter. State Street Corp lifted its holdings in Heartland Financial USA by 8.2% during the first quarter. State Street Corp now owns 1,103,156 shares of the bank’s stock valued at $52,764,000 after purchasing an additional 83,233 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Heartland Financial USA by 276.5% in the second quarter. Cubist Systematic Strategies LLC now owns 68,150 shares of the bank’s stock worth $2,831,000 after buying an additional 50,049 shares in the last quarter. Hedge funds and other institutional investors own 62.33% of the company’s stock.

Heartland Financial USA Trading Down 0.1 %

Shares of HTLF opened at $49.41 on Thursday. The company’s fifty day moving average is $47.90 and its 200 day moving average is $47.02. Heartland Financial USA, Inc. has a fifty-two week low of $39.27 and a fifty-two week high of $51.60. The stock has a market capitalization of $2.10 billion, a PE ratio of 10.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.64 and a current ratio of 0.64.

Heartland Financial USA (NASDAQ:HTLF – Get Rating) last announced its quarterly earnings results on Monday, January 30th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. Heartland Financial USA had a net margin of 27.27% and a return on equity of 13.35%. The company had revenue of $234.68 million for the quarter, compared to analysts’ expectations of $188.66 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. Sell-side analysts expect that Heartland Financial USA, Inc. will post 5.41 earnings per share for the current fiscal year.

Heartland Financial USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 10th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, February 9th. This is a boost from Heartland Financial USA’s previous quarterly dividend of $0.28. Heartland Financial USA’s payout ratio is currently 24.29%.

Insider Buying and Selling

In related news, Director Martin J. Schmitz sold 4,000 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $50.21, for a total value of $200,840.00. Following the sale, the director now owns 65,340 shares in the company, valued at $3,280,721.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on HTLF. StockNews.com downgraded shares of Heartland Financial USA from a “buy” rating to a “hold” rating in a report on Saturday, January 14th. Keefe, Bruyette & Woods downgraded shares of Heartland Financial USA from an “outperform” rating to a “market perform” rating and set a $54.00 target price on the stock. in a report on Monday, December 12th. DA Davidson boosted their target price on shares of Heartland Financial USA to $52.00 in a report on Friday, November 4th. Finally, Piper Sandler boosted their target price on shares of Heartland Financial USA to $55.00 in a report on Friday, November 4th.

Heartland Financial USA Company Profile

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Heartland Financial USA, Inc operates as a bank holding company. The firm provides commercial banking services. It also engages in the business of community banking. The company was founded in 1981 and is headquartered in Denver, CO.