DA Davidson raised the firm’s price target on Heartland Financial (HTLF) to $45 from $36 and keeps a Neutral rating on the shares after UMB Financial Corporation (UMBF) stepped in to acquire the bank. Regulatory scrutiny is an ever present risk to M&A transactions in today’s climate, but the unique pairing of these banks as well as the difficult “merger math” that many peers have spoken about in recent weeks suggests a competing offer is unlikely, the analyst tells investors in a research note.
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Read More on HTLF:
- Heartland Financial and UMB Announce Strategic Merger Agreement
- Heartland Financial reports Q1 adjusted EPS $1.22, consensus $1.11
- UMB Financial to acquire Heartland Financial in transaction valued at $2B
- UMB Financial to acquire Heartland Financial in $2B all-stock transaction
- UMB Announces Agreement to Acquire Heartland Financial
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