Oxford Financial Group LTD. LLC Makes New $1.66 Million Investment in Horizon Bancorp (IN) $HBNC

Oxford Financial Group LTD. LLC bought a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,814 shares of the financial services provider’s stock, valued at approximately $1,655,000. Oxford Financial Group LTD. LLC owned approximately 0.16% of Horizon Bancorp (IN) as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Bayview Asset Management LLC increased its position in shares of Horizon Bancorp (IN) by 0.7% during the fourth quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock valued at $1,619,000 after acquiring an additional 645 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Horizon Bancorp (IN) by 65.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 660 shares in the last quarter. Rafferty Asset Management LLC lifted its position in Horizon Bancorp (IN) by 3.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 941 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $388,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Horizon Bancorp (IN) by 9.6% during the 4th quarter. Sanctuary Advisors LLC now owns 14,845 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 1,298 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on HBNC shares. Piper Sandler restated a “neutral” rating and issued a $23.00 price target (up from $21.00) on shares of Horizon Bancorp (IN) in a research note on Friday, July 24th. Stephens reaffirmed an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their price objective on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Weiss Ratings upgraded Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.33.

Horizon Bancorp (IN) Price Performance

NASDAQ HBNC opened at $19.59 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. Horizon Bancorp has a 12 month low of $14.84 and a 12 month high of $21.04. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -6.20 and a beta of 0.82. The company’s 50 day moving average is $20.05 and its two-hundred day moving average is $18.46.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The firm had revenue of $75.50 million during the quarter, compared to the consensus estimate of $76.56 million. Horizon Bancorp (IN) had a positive return on equity of 13.31% and a negative net margin of 36.38%. As a group, research analysts anticipate that Horizon Bancorp will post 2.07 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 annualized dividend and a yield of 3.3%. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.25%.

Insiders Place Their Bets

In other Horizon Bancorp (IN) news, EVP Kathie A. Deruiter sold 8,000 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $20.19, for a total value of $161,520.00. Following the completion of the sale, the executive vice president owned 50,346 shares in the company, valued at approximately $1,016,485.74. This represents a 13.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.19% of the company’s stock.

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.