Horizon Bancorp (IN) $HBNC Shares Sold by LSV Asset Management

LSV Asset Management decreased its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 670,553 shares of the financial services provider’s stock after selling 34,020 shares during the quarter. LSV Asset Management’s holdings in Horizon Bancorp (IN) were worth $10,736,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Horizon Bancorp (IN) by 4.3% during 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 in the last quarter. Empowered Funds LLC increased its position in shares of Horizon Bancorp (IN) by 28.5% during the first quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 33,355 shares during the period. Jane Street Group LLC purchased a new stake in shares of Horizon Bancorp (IN) during the first quarter worth $1,231,000. AlphaQuest LLC raised its stake in shares of Horizon Bancorp (IN) by 394.0% in the second quarter. AlphaQuest LLC now owns 12,260 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 9,778 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in Horizon Bancorp (IN) by 7.6% in the second quarter. Keybank National Association OH now owns 14,089 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HBNC. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Zacks Research downgraded Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.33.

Horizon Bancorp (IN) Stock Up 1.4%

Shares of NASDAQ HBNC opened at $18.01 on Friday. The business has a 50-day moving average of $17.68 and a two-hundred day moving average of $16.66. The company has a market capitalization of $922.47 million, a price-to-earnings ratio of -5.72 and a beta of 0.83. Horizon Bancorp has a 1 year low of $12.70 and a 1 year high of $19.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $64.53 million for the quarter, compared to analyst estimates of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%. On average, analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s payout ratio is currently -20.32%.

About Horizon Bancorp (IN)

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.