Jupiter Asset Management Ltd. Invests $684,000 in Horizon Bancorp (IN) $HBNC

Jupiter Asset Management Ltd. acquired a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,734 shares of the financial services provider’s stock, valued at approximately $684,000. Jupiter Asset Management Ltd. owned about 0.08% of Horizon Bancorp (IN) at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HBNC. Vanguard Group Inc. grew its stake in Horizon Bancorp (IN) by 9.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,012,969 shares of the financial services provider’s stock worth $48,238,000 after buying an additional 261,587 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Horizon Bancorp (IN) by 452.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock valued at $5,820,000 after buying an additional 297,799 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of Horizon Bancorp (IN) during the 3rd quarter worth $270,000. PL Capital Advisors LLC grew its position in Horizon Bancorp (IN) by 13.4% in the third quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock worth $27,076,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Keybank National Association OH grew its position in Horizon Bancorp (IN) by 76.4% in the third quarter. Keybank National Association OH now owns 24,846 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 10,757 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp (IN) Stock Performance

NASDAQ HBNC opened at $18.08 on Monday. The company has a 50-day simple moving average of $17.68 and a two-hundred day simple moving average of $16.76. Horizon Bancorp has a 12-month low of $12.70 and a 12-month high of $19.07. The firm has a market cap of $926.06 million, a price-to-earnings ratio of -5.74 and a beta of 0.83. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $64.53 million during the quarter, compared to analyst estimates of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%. On average, equities analysts forecast that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.16 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.64 annualized dividend and a yield of 3.5%. Horizon Bancorp (IN)’s payout ratio is presently -20.32%.

Wall Street Analyst Weigh In

HBNC has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Zacks Research lowered Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.33.

About Horizon Bancorp (IN)

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.