Elizabeth Park Capital Advisors Ltd. lifted its position in Horizon Bancorp (IN) (NASDAQ:HBNC – Free Report) by 235.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 256,669 shares of the financial services provider’s stock after acquiring an additional 180,047 shares during the period. Horizon Bancorp (IN) accounts for about 3.6% of Elizabeth Park Capital Advisors Ltd.’s investment portfolio, making the stock its 4th largest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.50% of Horizon Bancorp (IN) worth $4,353,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Horizon Bancorp (IN) by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after buying an additional 1,057 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Horizon Bancorp (IN) by 28.5% in the first quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 33,355 shares during the period. Jane Street Group LLC purchased a new stake in Horizon Bancorp (IN) in the 1st quarter worth $1,231,000. Rhumbline Advisers lifted its holdings in Horizon Bancorp (IN) by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock worth $1,052,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Horizon Bancorp (IN) in the second quarter worth $816,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th. Wall Street Zen cut Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings raised Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Finally, Stephens initiated coverage on Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 price objective for the company. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.67.
Horizon Bancorp (IN) Stock Down 0.9%
Shares of NASDAQ HBNC opened at $19.25 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market cap of $988.10 million, a P/E ratio of -6.05 and a beta of 0.83. The firm’s 50 day moving average price is $18.28 and its 200 day moving average price is $17.62. Horizon Bancorp has a 1 year low of $14.34 and a 1 year high of $19.93.
Horizon Bancorp (IN) (NASDAQ:HBNC – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $73.48 million during the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. As a group, sell-side analysts anticipate that Horizon Bancorp will post 2.1 earnings per share for the current year.
Horizon Bancorp (IN) Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 3rd will be paid a $0.16 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -20.13%.
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.
Read More
- Five stocks we like better than Horizon Bancorp (IN)
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
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 – Free Report).
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.
