Horizon Bancorp (IN) $HBNC Shares Purchased by FJ Capital Management LLC

FJ Capital Management LLC raised its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 309.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,083,840 shares of the financial services provider’s stock after purchasing an additional 819,189 shares during the period. Horizon Bancorp (IN) comprises 2.1% of FJ Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. FJ Capital Management LLC owned approximately 2.12% of Horizon Bancorp (IN) worth $18,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised 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 purchasing an additional 660 shares in the last quarter. Tower Research Capital LLC TRC raised its position in 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 valued at $101,000 after purchasing an additional 4,024 shares in the last quarter. Rossby Financial LCC acquired a new stake in Horizon Bancorp (IN) in the 4th quarter valued at about $124,000. Raymond James Financial Inc. acquired a new stake in Horizon Bancorp (IN) in the 2nd quarter valued at about $134,000. Finally, Quadrant Capital Group LLC acquired a new stake in Horizon Bancorp (IN) in the 3rd quarter valued at about $140,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HBNC shares. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Stephens started coverage on Horizon Bancorp (IN) in a research report on Friday, March 27th. They issued an “overweight” rating and a $20.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Finally, Weiss Ratings raised 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 given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.67.

Horizon Bancorp (IN) Trading Up 1.2%

NASDAQ:HBNC opened at $19.75 on Friday. The stock’s 50 day moving average price is $18.13 and its 200 day moving average price is $17.57. The company has a market capitalization of $1.01 billion, a PE ratio of -6.21 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Horizon Bancorp has a 52-week low of $14.34 and a 52-week high of $19.75.

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

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.13%.

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.