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UPDATE: Keefe Bruyette & Woods Raises PT to $25 on Heartland Financial USA


Keefe Bruyette & Woods reiterated its Market Perform rating on Heartland Financial USA (NASDAQ: HTLF) and raised its price target from $19 to $25 following strong performance in the second quarter.

Keefe Bruyette & Woods said, "Heartland put in another strong performance in 2Q with strong loan growth, very low credit costs, and robust mortgage banking results. Importantly, many of these favorable trends are likely to continue in 2H12. … We continue to find ourselves chasing estimates higher as we underestimate the credit recovery that is firmly underway and the traction within mortgage banking."

Heartland Financial USA closed at $26.13 on Tuesday.

Latest Ratings for HTLF

Apr 2020DA DavidsonMaintainsNeutral
Jan 2020Piper SandlerUpgradesNeutralOverweight
Jul 2019Piper JaffrayMaintainsOverweight

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