Maltese Capital Management LLC Acquires 71,700 Shares of Horizon Bancorp (IN) $HBNC

Maltese Capital Management LLC boosted its holdings in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 841,700 shares of the financial services provider’s stock after acquiring an additional 71,700 shares during the period. Horizon Bancorp (IN) comprises 2.0% of Maltese Capital Management LLC’s portfolio, making the stock its 10th largest holding. Maltese Capital Management LLC’s holdings in Horizon Bancorp (IN) were worth $13,476,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HBNC. Wellington Management Group LLP acquired a new position in shares of Horizon Bancorp (IN) in the third quarter worth $24,842,000. Alliancebernstein L.P. boosted its stake in shares of Horizon Bancorp (IN) by 1,202.2% during the third quarter. Alliancebernstein L.P. now owns 593,109 shares of the financial services provider’s stock valued at $9,496,000 after acquiring an additional 547,561 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new stake in Horizon Bancorp (IN) during the 3rd quarter worth about $6,004,000. JPMorgan Chase & Co. raised its stake in Horizon Bancorp (IN) by 452.9% in 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 last quarter. Finally, FJ Capital Management LLC acquired a new position in Horizon Bancorp (IN) in the 3rd quarter valued at about $4,237,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Stock Up 0.3%

Shares of NASDAQ:HBNC opened at $15.94 on Tuesday. The stock’s 50-day moving average price is $17.39 and its two-hundred day moving average price is $16.85. 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 has a 12-month low of $12.70 and a 12-month high of $19.07. The firm has a market cap of $816.45 million, a price-to-earnings ratio of -5.06 and a beta of 0.82.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on HBNC shares. Keefe, Bruyette & Woods raised their price target 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 reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Finally, Zacks Research lowered shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.