Creative Planning Acquires 53,924 Shares of Horizon Bancorp (IN) $HBNC

Creative Planning raised its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 88.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,125 shares of the financial services provider’s stock after purchasing an additional 53,924 shares during the period. Creative Planning owned approximately 0.26% of Horizon Bancorp (IN) worth $1,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. AlphaQuest LLC raised its position in shares of Horizon Bancorp (IN) by 394.0% in the second quarter. AlphaQuest LLC now owns 12,260 shares of the financial services provider’s stock valued at $189,000 after buying an additional 9,778 shares in the last quarter. Quantbot Technologies LP raised its holdings in Horizon Bancorp (IN) by 49.0% in the 1st quarter. Quantbot Technologies LP now owns 13,046 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 4,293 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Horizon Bancorp (IN) in the 1st quarter valued at $198,000. EP Wealth Advisors LLC lifted its position in shares of Horizon Bancorp (IN) by 42.3% during the 1st quarter. EP Wealth Advisors LLC now owns 14,295 shares of the financial services provider’s stock valued at $216,000 after acquiring an additional 4,246 shares during the period. Finally, Keybank National Association OH grew its holdings in shares of Horizon Bancorp (IN) by 7.6% during the 2nd quarter. Keybank National Association OH now owns 14,089 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Up 1.0%

Shares of NASDAQ HBNC opened at $17.23 on Thursday. The company has a market cap of $882.47 million, a price-to-earnings ratio of -4.38 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. Horizon Bancorp has a 12 month low of $12.70 and a 12 month high of $18.73. The stock has a 50-day moving average price of $15.99 and a two-hundred day moving average price of $15.76.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.16). The company had revenue of $59.98 million for the quarter, compared to the consensus estimate of $69.34 million. Horizon Bancorp (IN) had a negative net margin of 51.01% and a positive return on equity of 9.64%. As a group, analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a dividend of $0.16 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.64 annualized dividend and a dividend yield of 3.7%. Horizon Bancorp (IN)’s dividend payout ratio is -16.28%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research raised Horizon Bancorp (IN) from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods upgraded shares of Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $19.00 in a research report on Tuesday, August 26th. Stephens upped their price target on shares of Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Horizon Bancorp (IN) currently has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.