Horizon Bancorp (IN) $HBNC Stock Position Increased by Maltese Capital Management LLC

Maltese Capital Management LLC boosted its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 841,700 shares of the financial services provider’s stock after buying an additional 71,700 shares during the period. Horizon Bancorp (IN) makes up 2.0% of Maltese Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Maltese Capital Management LLC owned approximately 1.64% of Horizon Bancorp (IN) worth $13,476,000 as of its most recent SEC filing.

Several other institutional investors have 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 3rd quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock worth $27,076,000 after purchasing an additional 200,000 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Horizon Bancorp (IN) during the 3rd quarter valued at about $1,780,000. HoldCo Asset Management LP bought a new stake in shares of Horizon Bancorp (IN) during the second quarter valued at about $1,411,000. Horizon Bancorp Inc. IN lifted 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 buying an additional 221,620 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Horizon Bancorp (IN) by 88.1% in the second quarter. Creative Planning now owns 115,125 shares of the financial services provider’s stock valued at $1,771,000 after acquiring an additional 53,924 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on HBNC shares. Weiss Ratings reaffirmed 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 lifted their price objective on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Horizon Bancorp (IN) presently has an average rating of “Hold” and an average target price of $20.33.

Horizon Bancorp (IN) Stock Up 0.3%

HBNC stock opened at $15.94 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $17.39 and its 200 day moving average price is $16.85. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $19.07. The company has a market cap of $816.45 million, a P/E ratio of -5.06 and a beta of 0.82.

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

Horizon Bancorp (IN) 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.