Keefe, Bruyette & Woods Reports 1Q Miss On Heartland Financial USA

According to Keefe, Bruyette & Woods, Heartland Financial USA HTLF 1Q results fell short of expectations as credit costs were elevated and fee income was under pressure q/q. Keefe, Bruyette & Woods said that the margin, however, remained a bright spot and expenses were well controlled. “Lowering 2011 estimates to reflect more cautious near-term credit outlook, but leaving 2012/2013 and PT unchanged.” Heartland Financial USA closed yesterday at $14.90.