Horizon Bancorp (IN) $HBNC Stake Boosted by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. grew its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 18.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 444,000 shares of the financial services provider’s stock after acquiring an additional 69,000 shares during the period. Horizon Bancorp (IN) accounts for 1.4% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 29th biggest holding. Stieven Capital Advisors L.P.’s holdings in Horizon Bancorp (IN) were worth $7,530,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in shares of Horizon Bancorp (IN) during the 3rd quarter valued at $28,000. Tower Research Capital LLC TRC grew its holdings in shares of Horizon Bancorp (IN) by 160.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 4,024 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Horizon Bancorp (IN) during the 2nd quarter valued at $134,000. Quadrant Capital Group LLC purchased a new position in shares of Horizon Bancorp (IN) during the 3rd quarter valued at $140,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Horizon Bancorp (IN) by 17.9% during the 3rd quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 1,600 shares in the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Bancorp (IN) Stock Down 0.4%

HBNC stock opened at $18.34 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. Horizon Bancorp has a 1 year low of $14.34 and a 1 year high of $19.07. The company has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $17.27. The firm has a market cap of $941.39 million, a PE ratio of -5.77 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The business had revenue of $73.48 million during the quarter, compared to analyst estimates of $76.11 million. Sell-side analysts anticipate that Horizon Bancorp will post 2.1 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

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

Wall Street Analyst Weigh In

HBNC has been the topic of several research analyst reports. Stephens initiated coverage on shares of Horizon Bancorp (IN) in a report on Friday, March 27th. They set an “overweight” rating and a $20.00 price target on the stock. Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods boosted their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Finally, Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.67.

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.