Hantz Financial Services Inc. Invests $486,000 in Horizon Bancorp (IN) $HBNC

Hantz Financial Services Inc. acquired a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 28,668 shares of the financial services provider’s stock, valued at approximately $486,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Horizon Bancorp (IN) by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock worth $54,093,000 after buying an additional 176,448 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Horizon Bancorp (IN) by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock worth $41,116,000 after buying an additional 75,462 shares during the last quarter. PL Capital Advisors LLC lifted 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 worth $27,076,000 after buying an additional 200,000 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Horizon Bancorp (IN) in the third quarter worth $24,842,000. Finally, Jennison Associates LLC lifted its stake in shares of Horizon Bancorp (IN) by 69.6% in the fourth quarter. Jennison Associates LLC now owns 1,242,365 shares of the financial services provider’s stock worth $21,071,000 after buying an additional 509,775 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HBNC. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Piper Sandler reiterated a “neutral” rating and set a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Stephens started coverage on shares of Horizon Bancorp (IN) in a research note on Friday, March 27th. They set an “overweight” rating and a $20.00 target price for the company. Finally, Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.67.

Horizon Bancorp (IN) Price Performance

NASDAQ:HBNC opened at $18.48 on Friday. The stock has a market cap of $948.58 million, a P/E ratio of -5.81 and a beta of 0.83. Horizon Bancorp has a one year low of $14.34 and a one year high of $19.07. The company has a fifty day moving average price of $17.54 and a 200 day moving average price of $17.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90.

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

Horizon Bancorp (IN) Dividend Announcement

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