Alliancebernstein L.P. bought a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,550 shares of the financial services provider’s stock, valued at approximately $383,000. Alliancebernstein L.P. owned about 0.07% of Horizon Bancorp (IN) as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its position in shares of Horizon Bancorp (IN) by 14.2% in the second quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock valued at $140,000 after buying an additional 662 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Horizon Bancorp (IN) in the second quarter valued at about $205,000. Goldman Sachs Group Inc. raised its position in shares of Horizon Bancorp (IN) by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock valued at $215,000 after buying an additional 519 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in Horizon Bancorp (IN) by 29.2% during the second quarter. Virginia Retirement Systems ET AL now owns 11,500 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 2,600 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Horizon Bancorp (IN) by 6.2% during the second quarter. American Century Companies Inc. now owns 11,664 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 678 shares during the last quarter. Institutional investors and hedge funds own 40.81% of the company’s stock.

HBNC has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies set a $32.00 price objective on shares of Horizon Bancorp (IN) and gave the company a “buy” rating in a research note on Saturday, July 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Horizon Bancorp (IN) presently has a consensus rating of “Buy” and a consensus target price of $29.75.

Horizon Bancorp (NASDAQ:HBNC) opened at $27.06 on Tuesday. Horizon Bancorp has a 1-year low of $18.33 and a 1-year high of $29.25. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.97 and a quick ratio of 0.96. The company has a market cap of $659.56, a price-to-earnings ratio of 17.49 and a beta of 0.98.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). Horizon Bancorp (IN) had a net margin of 20.03% and a return on equity of 9.88%. The firm had revenue of $35.90 million during the quarter, compared to analyst estimates of $37.81 million. analysts predict that Horizon Bancorp will post 1.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, October 6th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, October 5th. Horizon Bancorp (IN)’s payout ratio is 37.41%.

In related news, CEO Craig M. Dwight sold 15,365 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $27.42, for a total value of $421,308.30. Following the completion of the transaction, the chief executive officer now owns 150,625 shares of the company’s stock, valued at approximately $4,130,137.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas H. Edwards sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the transaction, the insider now directly owns 1,689 shares of the company’s stock, valued at approximately $43,914. The disclosure for this sale can be found here. Insiders sold a total of 37,820 shares of company stock valued at $1,006,471 in the last three months. 5.40% of the stock is currently owned by corporate insiders.

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Horizon Bancorp (IN) Company Profile

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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Institutional Ownership by Quarter for Horizon Bancorp (IN) (NASDAQ:HBNC)

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