Virginia Retirement Systems ET AL raised its position in Horizon Bancorp (IN) (NASDAQ:HBNC) by 29.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,500 shares of the financial services provider’s stock after purchasing an additional 2,600 shares during the period. Virginia Retirement Systems ET AL owned 0.05% of Horizon Bancorp (IN) worth $303,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Federated Investors Inc. PA lifted its holdings in Horizon Bancorp (IN) by 7.7% in the 2nd quarter. Federated Investors Inc. PA now owns 33,494 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 2,407 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Horizon Bancorp (IN) in the 2nd quarter valued at $711,000. Comerica Bank purchased a new position in Horizon Bancorp (IN) in the 2nd quarter valued at $611,000. Legal & General Group Plc lifted its holdings in Horizon Bancorp (IN) by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 662 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Horizon Bancorp (IN) by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 135,963 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 5,294 shares in the last quarter. Institutional investors own 45.13% of the company’s stock.

In other news, insider James D. Neff sold 1,800 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $26.25, for a total value of $47,250.00. Following the sale, the insider now directly owns 147,176 shares in the company, valued at $3,863,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James D. Neff sold 6,643 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $26.05, for a total value of $173,050.15. Following the completion of the sale, the insider now owns 147,176 shares in the company, valued at $3,833,934.80. The disclosure for this sale can be found here. Insiders sold 24,254 shares of company stock worth $635,536 over the last 90 days. Company insiders own 5.40% of the company’s stock.

A number of research analysts have weighed in on the company. Piper Jaffray Companies set a $32.00 price objective on Horizon Bancorp (IN) and gave the company a “buy” rating in a report on Saturday, July 29th. Zacks Investment Research upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, July 3rd. Finally, ValuEngine upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.50.

Horizon Bancorp (NASDAQ:HBNC) opened at 25.46 on Monday. Horizon Bancorp has a 12-month low of $17.70 and a 12-month high of $28.63. The stock has a market cap of $564.60 million, a price-to-earnings ratio of 19.16 and a beta of 0.99. The stock’s 50 day moving average price is $25.99 and its 200 day moving average price is $26.07.

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About Horizon Bancorp (IN)

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.

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

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