Siena Capital Partners GP LLC Makes New $2.09 Million Investment in Horizon Bancorp (IN) $HBNC

Siena Capital Partners GP LLC purchased a new stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 130,714 shares of the financial services provider’s stock, valued at approximately $2,093,000. Siena Capital Partners GP LLC owned approximately 0.26% of Horizon Bancorp (IN) at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HBNC. JPMorgan Chase & Co. raised its position in shares of Horizon Bancorp (IN) by 452.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock valued at $5,820,000 after purchasing an additional 297,799 shares during the period. Vanguard Group Inc. increased its stake in Horizon Bancorp (IN) by 9.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,012,969 shares of the financial services provider’s stock worth $48,238,000 after buying an additional 261,587 shares in the last quarter. CSM Advisors LLC bought a new stake in Horizon Bancorp (IN) during the second quarter valued at about $3,479,000. Horizon Bancorp Inc. IN raised its holdings in Horizon Bancorp (IN) by 61.5% during 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 period. Finally, PL Capital Advisors LLC lifted its position 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 acquiring an additional 200,000 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp (IN) Price Performance

NASDAQ:HBNC opened at $16.84 on Friday. The business’s 50-day moving average is $17.58 and its 200 day moving average is $16.82. Horizon Bancorp has a 12 month low of $12.70 and a 12 month high of $19.07. The company has a market capitalization of $862.54 million, a P/E ratio of -5.35 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32.

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, beating 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. On average, equities research analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.8%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -20.32%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Zacks Research downgraded Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Horizon Bancorp (IN) currently has a consensus rating of “Hold” and a consensus price target of $20.33.

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.