PL Capital Advisors LLC Has $23.89 Million Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

PL Capital Advisors LLC increased its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,483,174 shares of the financial services provider’s stock after purchasing an additional 10,000 shares during the quarter. Horizon Bancorp accounts for 8.2% of PL Capital Advisors LLC’s holdings, making the stock its 5th biggest holding. PL Capital Advisors LLC owned approximately 3.39% of Horizon Bancorp worth $23,894,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of HBNC. Foundry Partners LLC boosted its stake in Horizon Bancorp by 46.0% during the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock worth $2,824,000 after buying an additional 57,240 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Horizon Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock worth $16,387,000 after acquiring an additional 52,423 shares during the last quarter. Barclays PLC boosted its stake in shares of Horizon Bancorp by 62.7% during the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 42,218 shares during the period. JPMorgan Chase & Co. grew its holdings in Horizon Bancorp by 37.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 28,999 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Horizon Bancorp by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock worth $5,458,000 after purchasing an additional 22,727 shares during the period. Institutional investors own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Piper Sandler decreased their target price on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Horizon Bancorp Trading Up 1.3 %

NASDAQ HBNC opened at $16.67 on Wednesday. The company’s 50-day simple moving average is $16.44 and its two-hundred day simple moving average is $16.37. Horizon Bancorp, Inc. has a one year low of $11.18 and a one year high of $19.18. The company has a market capitalization of $728.73 million, a price-to-earnings ratio of 20.84 and a beta of 1.07. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. Equities analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s payout ratio is currently 80.00%.

Horizon Bancorp Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.