Deprince Race & Zollo Inc. Makes New $1.78 Million Investment in Horizon Bancorp (IN) $HBNC

Deprince Race & Zollo Inc. purchased a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 111,187 shares of the financial services provider’s stock, valued at approximately $1,780,000. Deprince Race & Zollo Inc. owned about 0.25% of Horizon Bancorp (IN) at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Horizon Bancorp (IN) by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,096,524 shares of the financial services provider’s stock worth $16,868,000 after acquiring an additional 12,465 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in Horizon Bancorp (IN) by 38.6% during the second quarter. Hillsdale Investment Management Inc. now owns 337,080 shares of the financial services provider’s stock worth $5,184,000 after purchasing an additional 93,840 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in Horizon Bancorp (IN) by 4.5% during the second quarter. Harbour Trust & Investment Management Co now owns 328,569 shares of the financial services provider’s stock worth $5,053,000 after purchasing an additional 14,134 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Horizon Bancorp (IN) by 3.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 272,272 shares of the financial services provider’s stock worth $4,188,000 after purchasing an additional 9,170 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Horizon Bancorp (IN) by 1.2% during the 2nd quarter. AQR Capital Management LLC now owns 240,811 shares of the financial services provider’s stock valued at $3,704,000 after purchasing an additional 2,932 shares during the last quarter. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp (IN) Price Performance

Shares of Horizon Bancorp (IN) stock opened at $17.46 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91. Horizon Bancorp has a one year low of $12.70 and a one year high of $18.70. The business’s 50 day simple moving average is $16.78 and its two-hundred day simple moving average is $16.17. The stock has a market capitalization of $894.30 million, a P/E ratio of -4.44 and a beta of 0.84.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its 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). Horizon Bancorp (IN) had a positive return on equity of 10.01% and a negative net margin of 51.01%.The firm had revenue of $59.98 million during the quarter, compared to the consensus estimate of $69.34 million. Analysts forecast that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.16 dividend. The ex-dividend date is Friday, January 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.7%. Horizon Bancorp (IN)’s payout ratio is presently -16.28%.

Analyst Ratings Changes

A number of research firms recently weighed in on HBNC. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 22nd. Zacks Research cut shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Stephens lifted their price target on shares of Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Horizon Bancorp (IN) in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.67.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.