Dubuque Bank & Trust Co. Increases Position in Heartland Financial USA, Inc. as Confidence Grows
On September 24, 2023, it was reported that Dubuque Bank & Trust Co. had increased its position in Heartland Financial USA, Inc. (NASDAQ:HTLF) during the second quarter of the year. According to the company’s disclosure with the Securities and Exchange Commission, Dubuque Bank & Trust Co. now owns 1,693,170 shares of Heartland Financial USA’s stock, an increase of 3.2% from the previous period. This acquisition brings Heartland Financial USA’s holdings to approximately 6.1% of Dubuque Bank & Trust Co.’s portfolio, making it the third largest holding for the bank.
With this transaction, Dubuque Bank & Trust Co. now owns a total of 3.98% of Heartland Financial USA worth $47,189,000 as reported at the end of the most recent reporting period.
Additionally, Heartland Financial USA recently announced a quarterly dividend on its stock. Investors who were recorded as shareholders on Friday, August 11th received a dividend payment of $0.30 per share on Friday, August 25th. However, those who acquired shares after Thursday, August 10th did not qualify for this dividend.
Heartland Financial USA’s dividend payout ratio currently stands at 24.24%, indicating that it distributes around one-fourth of its earnings to shareholders in dividends annually. The annualized yield from this dividend is calculated to be approximately 4.13%.
These developments highlight Dubuque Bank & Trust Co.’s growing confidence in and commitment to Heartland Financial USA as an investment opportunity. By increasing their position in the company and making it their third largest holding, Dubuque Bank & Trust Co acknowledges the potential for growth and profitability in Heartland Financial USA.
Investors keen on monitoring market trends can refer to our latest report on HTLF for further insights and updates related to this stock.
Heartland Financial USA, Inc.
HTLF
Strong Buy
Updated on: 24/09/2023
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Date:22 September, 2023
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Recent Movement and Institutional Activity in Heartland Financial USA, Inc. (HTLF) Shares
Heartland Financial USA, Inc. (HTLF) has seen significant movement in its shares recently, with several institutional investors buying and selling shares of the company. Among these investors, JPMorgan Chase & Co., MetLife Investment Management LLC, Great West Life Assurance Co. Can, Dimensional Fund Advisors LP, and Sei Investments Co. have all increased their stake in the banking firm during the first quarter of this year.
JPMorgan Chase & Co., for instance, raised its stake in Heartland Financial USA by a whopping 84%, now owning 65,785 shares valued at $3,146,000. This increase was due to the purchase of an additional 30,040 shares during the last quarter. Similarly, MetLife Investment Management LLC boosted its stake by 41.5%, bringing its total holdings to 20,517 shares worth $981,000 after acquiring an extra 6,014 shares. Great West Life Assurance Co. Can also increased its stake by 24.9% to own 2,144 shares valued at $109,000 after purchasing an additional 428 shares.
Dimensional Fund Advisors LP joined in with a rise of 5.9% in its stake during the first quarter. The fund now owns a staggering amount of 1,838,023 shares worth $87,913,000 since it added another 102,441 shares to its portfolio. Finally, Sei Investments Co. raised its stake by a remarkable 61.1%. It now possesses 12,890 shares worth $617,
000 after purchasing an additional 4,
890 shares.
It is noteworthy that hedge funds and other institutional investors currently make up about two-thirds (68.84%) of Heartland Financial USA’s stock ownership landscape.
Several research firms have also provided insights on HTLF’s performance and future prospects through analytical reports. For example,
Stephens has reaffirmed its “overweight” rating on the stock and has set a target price of $38.00. DA Davidson, on the other hand, has increased its target price from $31.00 to $35.00 while maintaining a “neutral” rating. StockNews.com initiated coverage on Heartland Financial USA and suggested a “hold” rating.
Presently, three research analysts have rated the stock as a hold, while only one analyst has given it a buy rating. According to Bloomberg’s data, the consensus rating for HTLF is “Hold,” with an average price target of $42.75.
In terms of recent trading activity, shares of HTLF were down by $0.48 on Friday, reaching $29.08. The company witnessed a trading volume of 198,493 shares, slightly higher than the average daily volume of 154,083 shares traded. The stock has oscillated between its 12-month low of $26.10 and its 12-month high of $51.60.
With regards to financial performance, Heartland Financial USA reported its quarterly earnings data on July 31st this year. The bank fell short of analysts’ consensus estimates by reporting earnings per share (EPS) of $1.14 instead of the expected $1.15 EPS.
On the bright side, Heartland Financial USA maintained a return on equity of 13.48% and net margin of 22.98%. However, it did not meet revenue expectations during this period; recording revenue of $179.63 million against analysts’ projected amount of $181.53 million.
Looking forward to the current fiscal year, equities analysts foresee Heartland Financial USA posting earnings per share (EPS) amounting to around 4.
56.
Overall, Heartland Financial USA’s shares have experienced fluctuations in response to investor activity and varying opinions from research firms about its performance potential and recommendations for buying or holding the stock. This constant flux in share price and investor sentiment reflects the complexity and dynamic nature of the financial markets.
