Horizon Bancorp Inc. IN Buys 221,620 Shares of Horizon Bancorp (IN) $HBNC

Horizon Bancorp Inc. IN lifted its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 61.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 582,099 shares of the financial services provider’s stock after purchasing an additional 221,620 shares during the quarter. Horizon Bancorp (IN) accounts for about 4.4% of Horizon Bancorp Inc. IN’s portfolio, making the stock its 6th largest position. Horizon Bancorp Inc. IN owned about 1.14% of Horizon Bancorp (IN) worth $9,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Horizon Bancorp (IN) in the third quarter valued at approximately $211,000. State of Alaska Department of Revenue bought a new stake in Horizon Bancorp (IN) during the 3rd quarter worth $28,000. SG Americas Securities LLC increased its holdings in Horizon Bancorp (IN) by 13.2% in the 3rd quarter. SG Americas Securities LLC now owns 17,486 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 2,037 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Horizon Bancorp (IN) during the third quarter valued at about $1,780,000. Finally, CWM LLC grew its holdings in shares of Horizon Bancorp (IN) by 272.0% during the third quarter. CWM LLC now owns 26,314 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 19,241 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on HBNC. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Horizon Bancorp (IN) in a research report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Finally, Zacks Research downgraded Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.67.

Horizon Bancorp (IN) Price Performance

HBNC stock opened at $17.51 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The firm has a market cap of $896.86 million, a price-to-earnings ratio of -4.46 and a beta of 0.82. The company’s fifty day simple moving average is $17.17 and its 200 day simple moving average is $16.39. Horizon Bancorp has a 12-month low of $12.70 and a 12-month high of $18.70.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.16). The business had revenue of $59.98 million during the quarter, compared to the consensus estimate of $69.34 million. Horizon Bancorp (IN) had a positive return on equity of 10.01% and a negative net margin of 51.01%. On average, analysts expect that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.64 annualized dividend and a yield of 3.7%. Horizon Bancorp (IN)’s payout ratio is -16.28%.

Horizon Bancorp (IN) 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.