Horizon Bancorp (IN) $HBNC Shares Acquired by PL Capital Advisors LLC

PL Capital Advisors LLC lifted its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,812,825 shares of the financial services provider’s stock after buying an additional 121,651 shares during the period. Horizon Bancorp (IN) makes up approximately 9.7% of PL Capital Advisors LLC’s portfolio, making the stock its 4th biggest holding. PL Capital Advisors LLC’s holdings in Horizon Bancorp (IN) were worth $30,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HBNC. Wellington Management Group LLP purchased a new position in shares of Horizon Bancorp (IN) in the 3rd quarter worth approximately $24,842,000. Alliancebernstein L.P. boosted its stake in shares of Horizon Bancorp (IN) by 1,202.2% in the 3rd quarter. Alliancebernstein L.P. now owns 593,109 shares of the financial services provider’s stock worth $9,496,000 after buying an additional 547,561 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Horizon Bancorp (IN) by 69.6% in the 4th quarter. Jennison Associates LLC now owns 1,242,365 shares of the financial services provider’s stock worth $21,071,000 after buying an additional 509,775 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new position in shares of Horizon Bancorp (IN) in the 3rd quarter worth approximately $6,004,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Horizon Bancorp (IN) by 452.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock worth $5,820,000 after buying an additional 297,799 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Trading Down 1.7%

Shares of HBNC stock opened at $18.43 on Thursday. The company’s fifty day simple moving average is $17.48 and its two-hundred day simple moving average is $17.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. Horizon Bancorp has a 1 year low of $14.34 and a 1 year high of $19.07. The stock has a market capitalization of $946.01 million, a price-to-earnings ratio of -5.80 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The business had revenue of $73.48 million for the quarter, compared to analysts’ expectations of $76.11 million. As a group, analysts anticipate that Horizon Bancorp will post 2.1 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, April 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.5%. Horizon Bancorp (IN)’s payout ratio is presently -20.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HBNC. Wall Street Zen downgraded Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Stephens began coverage on Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price on the stock. Finally, Zacks Research upgraded Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.67.

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.