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

Heartland Financial USA, Inc. (NASDAQ:HTLF) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 986,100 shares, an increase of 42.9% from the August 15th total of 690,300 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average trading volume of 241,300 shares, the short-interest ratio is currently 4.1 days.

Analysts Set New Price Targets

HTLF has been the topic of several research reports. Keefe, Bruyette & Woods upgraded shares of Heartland Financial USA from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $51.00 to $54.00 in a report on Friday, May 31st. StockNews.com assumed coverage on shares of Heartland Financial USA in a research note on Friday. They issued a “hold” rating on the stock. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.60.

Heartland Financial USA Stock Performance

NASDAQ:HTLF traded down $0.19 during trading hours on Monday, reaching $56.40. The company had a trading volume of 25,146 shares, compared to its average volume of 304,100. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.77 and a quick ratio of 0.75. Heartland Financial USA has a 1-year low of $26.44 and a 1-year high of $56.92. The business’s 50 day moving average price is $52.09 and its 200-day moving average price is $43.75. The firm has a market cap of $2.42 billion, a PE ratio of 34.09 and a beta of 0.95.

Heartland Financial USA (NASDAQ:HTLF) last posted its earnings results on Tuesday, July 30th. The bank reported $1.15 earnings per share 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 during the quarter, compared to analyst estimates of $183.19 million. During the same period in the previous year, the firm earned $1.09 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts forecast that Heartland Financial USA 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 2.13%. The ex-dividend date was Tuesday, August 13th. Heartland Financial USA’s payout ratio is currently 72.29%.

Insider Activity 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 stock was sold at an average price of $50.14, for a total value of $220,064.46. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Heartland Financial USA

Institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in Heartland Financial USA by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 11,378 shares of the bank’s stock valued at $506,000 after acquiring an additional 240 shares during the period. ProShare Advisors LLC lifted its holdings in Heartland Financial USA by 8.5% during the first quarter. ProShare Advisors LLC now owns 7,600 shares of the bank’s stock valued at $267,000 after purchasing an additional 598 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Heartland Financial USA in the fourth quarter valued at about $26,000. Choreo LLC increased its stake in shares of Heartland Financial USA by 8.6% during the first quarter. Choreo LLC now owns 9,211 shares of the bank’s stock worth $324,000 after purchasing an additional 728 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Heartland Financial USA by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,119 shares of the bank’s stock worth $983,000 after purchasing an additional 984 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

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.