B.Riley FBR Reaffirms Their Hold Rating on Heartland Financial USA

By Austin Angelo

In a report released today, Steve Moss from B.Riley FBR reiterated a Hold rating on Heartland Financial USA (NASDAQ: HTLF), with a price target of $50. The company’s shares closed yesterday at $48.

Moss wrote:

“We reiterate our Neutral rating and $50 price target on Heartland Financial USA following the announcement of plans to acquire Minnesota-based Signature Bancshares, Inc. The deal moves HTLF to over $10B in total assets and adds a solid commercial and private bank to expand Heartland’s foothold in Minnesota. The deal is modestly accretive to EPS; however, the deal is small and is expected to trigger a $5M hit to pretax income ($0.12 to EPS). While this acquisition adds a solid franchise to HTLF’s existing base, we expect the company to continue to seek out additional deals to help manage the impact of crossing $10B.”

According to TipRanks.com, Moss is a 3-star analyst with an average return of 3.4% and a 55.6% success rate. Moss covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, Pinnacle Financial Partners, and Huntington Bancshares Inc.

Currently, the analyst consensus on Heartland Financial USA is Hold and the average price target is $51, representing a 6.3% upside.

In a report issued on October 30, KBW also reiterated a Hold rating on the stock with a $52 price target.

The company has a one-year high of $52.65 and a one-year low of $40.87. Currently, Heartland Financial USA has an average volume of 82.56K.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HTLF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Heartland Financial USA, Inc. is a multibank holding company that provides banking, mortgage, wealth management, insurance and consumer finance services to individuals and businesses. The company operates its business through two segments: Community Banking and Retail Mortgage Banking.