California State Teachers Retirement System Decreases Position in Horizon Bancorp (IN) (HBNC)

California State Teachers Retirement System reduced its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,764 shares of the financial services provider’s stock after selling 1,700 shares during the period. California State Teachers Retirement System owned 0.17% of Horizon Bancorp (IN) worth $995,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Horizon Bancorp (IN) by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock worth $215,000 after buying an additional 519 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Horizon Bancorp (IN) by 2.6% during the first quarter. Vanguard Group Inc. now owns 856,513 shares of the financial services provider’s stock valued at $22,457,000 after purchasing an additional 21,429 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Horizon Bancorp (IN) by 53.9% during the first quarter. Bank of America Corp DE now owns 12,321 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 4,317 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Horizon Bancorp (IN) by 24.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 37,250 shares of the financial services provider’s stock valued at $982,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Horizon Bancorp (IN) during the second quarter valued at approximately $711,000. 43.20% of the stock is owned by institutional investors.

In other news, CEO Craig M. Dwight sold 19,440 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $27.19, for a total transaction of $528,573.60. Following the sale, the chief executive officer now owns 154,223 shares in the company, valued at $4,193,323.37. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas H. Edwards sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the sale, the insider now owns 1,689 shares in the company, valued at approximately $43,914. The disclosure for this sale can be found here. Insiders have sold 58,660 shares of company stock valued at $1,574,387 in the last ninety days. Insiders own 5.40% of the company’s stock.

Horizon Bancorp (HBNC) opened at $26.91 on Monday. Horizon Bancorp has a one year low of $22.72 and a one year high of $29.25. The firm has a market cap of $685.72, a P/E ratio of 17.36 and a beta of 0.99. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.26.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.04). Horizon Bancorp (IN) had a net margin of 20.03% and a return on equity of 9.58%. The business had revenue of $35.90 million for the quarter, compared to the consensus estimate of $37.81 million. equities research analysts expect that Horizon Bancorp will post 1.64 EPS for the current fiscal year.

A number of equities analysts have weighed in on HBNC shares. Piper Jaffray Companies set a $32.00 target price on shares of Horizon Bancorp (IN) and gave the company a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Horizon Bancorp (IN) presently has a consensus rating of “Buy” and an average target price of $29.75.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://transcriptdaily.com/2017/11/27/california-state-teachers-retirement-system-decreases-position-in-horizon-bancorp-in-hbnc.html.

Horizon Bancorp (IN) Profile

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

Want to see what other hedge funds are holding HBNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Horizon Bancorp (IN) (NASDAQ:HBNC).

Institutional Ownership by Quarter for Horizon Bancorp (IN) (NASDAQ:HBNC)

Receive News & Ratings for Horizon Bancorp (IN) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp (IN) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply