Horizon Bancorp (HBNC) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its position in Horizon Bancorp (NASDAQ:HBNC) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,523 shares of the financial services provider’s stock after selling 9,512 shares during the period. Brandywine Global Investment Management LLC’s holdings in Horizon Bancorp were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Horizon Bancorp by 28.1% in the 2nd quarter. State Street Corp now owns 419,067 shares of the financial services provider’s stock worth $11,043,000 after acquiring an additional 91,901 shares during the last quarter. Rothschild Asset Management Inc. purchased a new position in Horizon Bancorp in the 3rd quarter worth $2,921,000. Valeo Financial Advisors LLC purchased a new position in Horizon Bancorp in the 3rd quarter worth $873,000. Stifel Financial Corp raised its stake in Horizon Bancorp by 184.3% in the 3rd quarter. Stifel Financial Corp now owns 42,168 shares of the financial services provider’s stock worth $1,231,000 after acquiring an additional 27,336 shares during the last quarter. Finally, Jacobs Asset Management LLC raised its stake in Horizon Bancorp by 20.3% in the 3rd quarter. Jacobs Asset Management LLC now owns 327,846 shares of the financial services provider’s stock worth $9,563,000 after acquiring an additional 55,429 shares during the last quarter. Institutional investors own 48.73% of the company’s stock.

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HBNC has been the subject of a number of research analyst reports. Zacks Investment Research lowered Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. BidaskClub lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. ValuEngine lowered Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $35.00 target price on shares of Horizon Bancorp in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $30.88.

In other Horizon Bancorp news, insider Dennis Kuhn sold 7,500 shares of Horizon Bancorp stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $30.00, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now owns 7,500 shares in the company, valued at approximately $225,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.40% of the company’s stock.

HBNC stock opened at $30.16 on Wednesday. The firm has a market capitalization of $787.53, a PE ratio of 21.25 and a beta of 1.09. Horizon Bancorp has a 52 week low of $24.41 and a 52 week high of $31.14. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.01.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.06). The company had revenue of $40.80 million for the quarter, compared to analysts’ expectations of $40.73 million. Horizon Bancorp had a net margin of 20.49% and a return on equity of 9.28%. equities research analysts expect that Horizon Bancorp will post 2.14 earnings per share for the current fiscal year.

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About Horizon Bancorp

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.

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

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