PL Capital Advisors LLC Has $27.08 Million Stake in Horizon Bancorp (IN) $HBNC

PL Capital Advisors LLC boosted its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 13.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,691,174 shares of the financial services provider’s stock after purchasing an additional 200,000 shares during the quarter. Horizon Bancorp (IN) comprises 9.0% of PL Capital Advisors LLC’s holdings, making the stock its 4th biggest position. PL Capital Advisors LLC’s holdings in Horizon Bancorp (IN) were worth $27,076,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HBNC. State of Alaska Department of Revenue acquired a new stake in Horizon Bancorp (IN) during the 3rd quarter worth $28,000. Tower Research Capital LLC TRC boosted its position in shares of Horizon Bancorp (IN) by 160.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 4,024 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Horizon Bancorp (IN) during the second quarter worth $134,000. New York State Common Retirement Fund grew its stake in shares of Horizon Bancorp (IN) by 17.9% during the third quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,600 shares during the period. Finally, AlphaQuest LLC increased its holdings in Horizon Bancorp (IN) by 394.0% in the second quarter. AlphaQuest LLC now owns 12,260 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 9,778 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Price Performance

Shares of HBNC opened at $18.04 on Wednesday. The firm has a market capitalization of $924.01 million, a PE ratio of -5.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.91. Horizon Bancorp has a fifty-two week low of $12.70 and a fifty-two week high of $19.07. The company’s 50-day moving average is $17.52 and its 200-day moving average is $16.53.

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

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.16 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.32%.

Analysts Set New Price Targets

Several research analysts recently weighed in on HBNC shares. Keefe, Bruyette & Woods lifted their price objective on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.33.

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.