EXHIBIT 23.4

CONSENT OF PIPER JAFFRAY & CO.

We hereby consent to the inclusion of our opinion letter to the Board of Directors of CIC Bancshares, Inc. (the "Company") as an Appendix to the Proxy Statement/Prospectus relating to the proposed merger of the Company with Heartland Financial USA, Inc. contained in the Proxy Statement/Prospectus that is a part of the Form S-4 as filed with the Securities and Exchange Commission, and to the references to our firm and such opinion in such Proxy Statement/Prospectus. In giving such consent, we do not admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended (the "Act"), or the rules and regulations of the Securities and Exchange Commission thereunder (the "Regulations"), nor do we admit that we are experts with respect to any part of such Proxy Statement/Prospectus within the meaning of the term "experts: as used in the Act or the Regulations.

PIPER JAFFRAY & CO.
By:	/s/ Steven P. Kent
Name:	Steven P. Kent
Title:	Managing Director and Vice Chairman of Financial Institutions Investment Banking Group
Date:	December 7, 2015