Pacific Ridge Capital Partners LLC Has $7.05 Million Stock Holdings in Horizon Bancorp (IN) $HBNC

Pacific Ridge Capital Partners LLC lifted its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 440,502 shares of the financial services provider’s stock after purchasing an additional 47,600 shares during the quarter. Horizon Bancorp (IN) accounts for 1.5% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 23rd largest position. Pacific Ridge Capital Partners LLC owned approximately 0.86% of Horizon Bancorp (IN) worth $7,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HBNC. PL Capital Advisors LLC lifted its holdings in Horizon Bancorp (IN) by 13.4% during the third quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock worth $27,076,000 after acquiring an additional 200,000 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Horizon Bancorp (IN) by 61.5% in the third quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock worth $9,319,000 after acquiring an additional 221,620 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Horizon Bancorp (IN) in the third quarter worth about $1,780,000. HoldCo Asset Management LP acquired a new stake in shares of Horizon Bancorp (IN) during the second quarter worth about $1,411,000. Finally, Creative Planning lifted its holdings in shares of Horizon Bancorp (IN) by 88.1% during the 2nd quarter. Creative Planning now owns 115,125 shares of the financial services provider’s stock valued at $1,771,000 after purchasing an additional 53,924 shares in the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Horizon Bancorp (IN) Price Performance

Shares of HBNC opened at $17.64 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $19.07. The stock has a market capitalization of $903.52 million, a P/E ratio of -5.60 and a beta of 0.83. The company has a 50 day moving average of $17.62 and a 200-day moving average of $16.80.

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

Horizon Bancorp (IN) Announces Dividend

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

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.