Hantz Financial Services Inc. Invests $486,000 in Horizon Bancorp (IN) $HBNC

Hantz Financial Services Inc. purchased a new stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,668 shares of the financial services provider’s stock, valued at approximately $486,000. Hantz Financial Services Inc. owned 0.06% of Horizon Bancorp (IN) at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. PL Capital Advisors LLC boosted its position 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 valued at $27,076,000 after purchasing an additional 200,000 shares during the last quarter. Siena Capital Partners GP LLC purchased a new stake in shares of Horizon Bancorp (IN) during the 3rd quarter worth about $2,093,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Horizon Bancorp (IN) during the 3rd quarter worth about $684,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Horizon Bancorp (IN) by 22.5% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 412,830 shares of the financial services provider’s stock valued at $6,609,000 after buying an additional 75,750 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Horizon Bancorp (IN) during the 3rd quarter valued at about $1,227,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

HBNC stock opened at $18.48 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $948.58 million, a price-to-earnings ratio of -5.81 and a beta of 0.83. Horizon Bancorp has a 12 month low of $14.34 and a 12 month high of $19.07. The firm has a 50 day moving average of $17.54 and a two-hundred day moving average of $17.36.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $73.48 million during the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. As a group, equities analysts anticipate that Horizon Bancorp will post 2.1 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s payout ratio is presently -20.13%.

Analyst Ratings Changes

A number of research firms recently commented on HBNC. Stephens began coverage on Horizon Bancorp (IN) in a report on Friday, March 27th. They issued an “overweight” rating and a $20.00 price objective on the stock. Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Piper Sandler reissued a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Weiss Ratings raised shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.67.

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.