375,000 Shares in Horizon Bancorp (IN) $HBNC Bought by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. bought a new position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 375,000 shares of the financial services provider’s stock, valued at approximately $6,004,000.

Several other hedge funds have also added to or reduced their stakes in HBNC. State of Alaska Department of Revenue acquired a new stake in shares of Horizon Bancorp (IN) during the third quarter worth about $28,000. Tower Research Capital LLC TRC grew its stake in shares of Horizon Bancorp (IN) by 160.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 4,024 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Horizon Bancorp (IN) in the second quarter valued at approximately $134,000. Quadrant Capital Group LLC acquired a new stake in Horizon Bancorp (IN) in the 3rd quarter valued at $140,000. Finally, New York State Common Retirement Fund increased its position in shares of Horizon Bancorp (IN) by 17.9% in the third quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Analyst Ratings Changes

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

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC opened at $15.89 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $813.89 million, a PE ratio of -5.04 and a beta of 0.82. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $19.07. The stock’s 50-day simple moving average is $17.41 and its 200 day simple moving average is $16.85.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results 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 firm had revenue of $64.53 million during the quarter, compared to analysts’ expectations of $74.35 million. On average, analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -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.