Pacific Ridge Capital Partners LLC Buys 47,600 Shares of Horizon Bancorp (IN) $HBNC

Pacific Ridge Capital Partners LLC grew its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 12.1% during the 3rd quarter, Holdings Channel reports. The firm owned 440,502 shares of the financial services provider’s stock after buying an additional 47,600 shares during the period. Horizon Bancorp (IN) comprises about 1.5% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 23rd biggest position. Pacific Ridge Capital Partners LLC’s holdings in Horizon Bancorp (IN) were worth $7,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HBNC. PL Capital Advisors LLC grew its stake in shares of Horizon Bancorp (IN) by 13.4% in the third quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock valued at $27,076,000 after buying an additional 200,000 shares in the last quarter. HoldCo Asset Management LP bought a new stake in Horizon Bancorp (IN) during the second quarter worth $1,411,000. Deprince Race & Zollo Inc. acquired a new stake in Horizon Bancorp (IN) in the third quarter valued at $1,780,000. Horizon Bancorp Inc. IN lifted its stake in Horizon Bancorp (IN) by 61.5% in the third quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock valued at $9,319,000 after acquiring an additional 221,620 shares during the last quarter. Finally, Creative Planning grew its position in shares of Horizon Bancorp (IN) by 88.1% in the 2nd quarter. Creative Planning now owns 115,125 shares of the financial services provider’s stock valued at $1,771,000 after acquiring an additional 53,924 shares during the period. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Trading Up 2.6%

Shares of NASDAQ:HBNC opened at $17.64 on Thursday. Horizon Bancorp has a 12-month low of $12.70 and a 12-month high of $19.07. The business has a 50 day moving average of $17.62 and a 200-day moving average of $16.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The stock has a market cap of $903.52 million, a PE ratio of -5.60 and a beta of 0.83.

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

Horizon Bancorp (IN) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders 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 yield of 3.6%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -20.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price 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. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Finally, Zacks Research cut Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.33.

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.