Heartland Financial USA (NASDAQ:HTLF) Given New $51.00 Price Target at Keefe, Bruyette & Woods

Heartland Financial USA (NASDAQ:HTLF) had its price objective increased by stock analysts at Keefe, Bruyette & Woods from $41.00 to $51.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 21.20% from the company’s previous close.

HTLF has been the subject of several other research reports. TheStreet lowered shares of Heartland Financial USA from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of Heartland Financial USA in a report on Tuesday, January 30th. Raymond James raised shares of Heartland Financial USA from a “market perform” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a research note on Thursday, February 29th. Finally, Piper Sandler lifted their target price on shares of Heartland Financial USA from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Heartland Financial USA currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Heartland Financial USA Price Performance

NASDAQ:HTLF opened at $42.08 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 25.35 and a beta of 1.06. The company has a 50 day moving average price of $34.48 and a 200-day moving average price of $33.91. Heartland Financial USA has a 1-year low of $26.10 and a 1-year high of $43.17.

Heartland Financial USA (NASDAQ:HTLF) last issued its quarterly earnings results on Monday, April 29th. The bank reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. The company had revenue of $279.39 million during the quarter, compared to analyst estimates of $182.73 million. Heartland Financial USA had a net margin of 8.17% and a return on equity of 11.50%. During the same quarter in the previous year, the firm earned $1.22 EPS. Equities research analysts forecast that Heartland Financial USA will post 4.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Heartland Financial USA by 67.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,827 shares of the bank’s stock valued at $1,189,000 after acquiring an additional 12,795 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Heartland Financial USA by 33.8% during the 1st quarter. Principal Financial Group Inc. now owns 23,256 shares of the bank’s stock valued at $817,000 after acquiring an additional 5,869 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Heartland Financial USA by 2.8% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,830 shares of the bank’s stock valued at $2,665,000 after acquiring an additional 2,070 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Heartland Financial USA by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 3,232,944 shares of the bank’s stock valued at $121,591,000 after acquiring an additional 88,886 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Heartland Financial USA during the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.