Advisory Research Inc. Has $21.34 Million Position in Horizon Bancorp (HBNC)
Advisory Research Inc. increased its position in shares of Horizon Bancorp (NASDAQ:HBNC) by 30.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 767,690 shares of the financial services provider’s stock after buying an additional 179,235 shares during the period. Advisory Research Inc.’s holdings in Horizon Bancorp were worth $21,342,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in Horizon Bancorp during the second quarter worth $205,000. Teacher Retirement System of Texas bought a new stake in Horizon Bancorp in the fourth quarter valued at $221,000. Bedel Financial Consulting Inc. bought a new stake in Horizon Bancorp in the fourth quarter valued at $240,000. Goldman Sachs Group Inc. increased its stake in Horizon Bancorp by 20.7% in the second quarter. Goldman Sachs Group Inc. now owns 9,914 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Horizon Bancorp by 70.6% in the second quarter. Parametric Portfolio Associates LLC now owns 13,938 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 5,768 shares in the last quarter. 44.87% of the stock is owned by institutional investors and hedge funds.
Shares of Horizon Bancorp (NASDAQ HBNC) opened at $29.19 on Thursday. Horizon Bancorp has a 52 week low of $24.41 and a 52 week high of $30.89. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.26. The firm has a market cap of $742.97, a price-to-earnings ratio of 18.52 and a beta of 1.05.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, January 5th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, January 4th. Horizon Bancorp’s payout ratio is presently 36.11%.
Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday. Sandler O’Neill reaffirmed a “hold” rating and issued a $29.50 price target on shares of Horizon Bancorp in a research note on Wednesday, January 3rd. ValuEngine raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $35.00 price target on shares of Horizon Bancorp in a research note on Monday, January 29th. Finally, Zacks Investment Research raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a research note on Friday, December 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.88.
In other news, CEO Craig M. Dwight sold 19,440 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $27.19, for a total transaction of $528,573.60. Following the completion of the sale, the chief executive officer now directly owns 154,223 shares of the company’s stock, valued at $4,193,323.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michele M. Thompson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $27.29, for a total transaction of $272,900.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,481 shares of company stock valued at $1,564,423. 5.40% of the stock is currently owned by insiders.
Horizon Bancorp Company 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.
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