Valeo Financial Advisors LLC bought a new stake in Horizon Bancorp (NASDAQ:HBNC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,935 shares of the financial services provider’s stock, valued at approximately $873,000. Valeo Financial Advisors LLC owned about 0.12% of Horizon Bancorp at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Horizon Bancorp by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock worth $215,000 after buying an additional 519 shares during the last quarter. Vanguard Group Inc. increased its holdings in Horizon Bancorp by 2.6% during the first quarter. Vanguard Group Inc. now owns 856,513 shares of the financial services provider’s stock worth $22,457,000 after buying an additional 21,429 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Horizon Bancorp by 53.9% in the first quarter. Bank of America Corp DE now owns 12,321 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 4,317 shares in the last quarter. State Street Corp increased its stake in shares of Horizon Bancorp by 28.1% in the second quarter. State Street Corp now owns 419,067 shares of the financial services provider’s stock worth $11,043,000 after purchasing an additional 91,901 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Horizon Bancorp by 7.4% in the second quarter. Northern Trust Corp now owns 244,531 shares of the financial services provider’s stock worth $6,444,000 after purchasing an additional 16,788 shares in the last quarter. Institutional investors own 44.67% of the company’s stock.

In other Horizon Bancorp news, insider Thomas H. Edwards sold 3,000 shares of Horizon Bancorp stock in a transaction that occurred on 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 sale, the insider now directly owns 1,689 shares in the company, valued at $43,914. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark E. Secor sold 12,135 shares of Horizon Bancorp stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $27.11, for a total transaction of $328,979.85. Following the sale, the chief financial officer now owns 4,648 shares of the company’s stock, valued at $126,007.28. The disclosure for this sale can be found here. Insiders sold 69,046 shares of company stock valued at $1,877,423 over the last 90 days. 5.40% of the stock is owned by company insiders.

Several research firms have recently weighed in on HBNC. Zacks Investment Research downgraded shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Piper Jaffray Companies set a $32.00 target price on shares of Horizon Bancorp and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, BidaskClub upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $30.67.

Horizon Bancorp (NASDAQ HBNC) opened at $27.11 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.96 and a quick ratio of 0.96. Horizon Bancorp has a 1 year low of $24.20 and a 1 year high of $29.25. The company has a market cap of $690.82, a P/E ratio of 17.49 and a beta of 0.98.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Horizon Bancorp had a net margin of 20.03% and a return on equity of 9.58%. The firm had revenue of $35.90 million during the quarter, compared to the consensus estimate of $37.81 million. analysts predict that Horizon Bancorp will post 1.64 EPS for the current fiscal year.

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Horizon Bancorp 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.

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

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