Deprince Race & Zollo Inc. Purchases 40,913 Shares of Horizon Bancorp (IN) $HBNC

Deprince Race & Zollo Inc. raised its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 36.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,100 shares of the financial services provider’s stock after acquiring an additional 40,913 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.30% of Horizon Bancorp (IN) worth $2,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Rafferty Asset Management LLC boosted its stake in shares of Horizon Bancorp (IN) by 3.9% during the second quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 941 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Horizon Bancorp (IN) by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 1,057 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Horizon Bancorp (IN) by 2.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 50,097 shares of the financial services provider’s stock valued at $850,000 after purchasing an additional 1,193 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Horizon Bancorp (IN) by 11.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,525 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 1,492 shares during the period. Finally, Intech Investment Management LLC boosted its stake in shares of Horizon Bancorp (IN) by 8.2% during the third quarter. Intech Investment Management LLC now owns 20,790 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 1,569 shares during the period. 64.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HBNC has been the subject of a number of recent analyst reports. Stephens initiated coverage on shares of Horizon Bancorp (IN) in a research note on Friday, March 27th. They set an “overweight” rating and a $20.00 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Horizon Bancorp (IN) in a research note on Friday. Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Keefe, Bruyette & Woods upped their price objective on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.67.

Horizon Bancorp (IN) Stock Performance

HBNC stock opened at $17.70 on Tuesday. The firm has a market cap of $906.77 million, a price-to-earnings ratio of -5.62 and a beta of 0.80. The firm has a 50-day simple moving average of $17.05 and a two-hundred day simple moving average of $16.86. Horizon Bancorp has a one year low of $12.71 and a one year high of $19.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.94 and a current ratio of 0.95.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The business had revenue of $64.53 million during the quarter, compared to analyst estimates of $74.35 million. Horizon Bancorp (IN) had a negative net margin of 37.12% and a positive return on equity of 11.77%. On average, equities analysts forecast that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, April 3rd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.32%.

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.