Horizon Bancorp (IN) $HBNC Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 670,553 shares of the financial services provider’s stock after selling 34,020 shares during the period. LSV Asset Management owned approximately 1.32% of Horizon Bancorp (IN) worth $10,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. B.O.S.S. Retirement Advisors LLC acquired a new position in Horizon Bancorp (IN) during the third quarter worth $270,000. PL Capital Advisors LLC boosted its position in shares of Horizon Bancorp (IN) by 13.4% during the 3rd 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 during the last quarter. Keybank National Association OH boosted its position in shares of Horizon Bancorp (IN) by 76.4% during the 3rd quarter. Keybank National Association OH now owns 24,846 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 10,757 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Horizon Bancorp (IN) by 15.9% in the third quarter. Arizona State Retirement System now owns 14,876 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 2,039 shares during the period. Finally, New York State Common Retirement Fund increased its position in Horizon Bancorp (IN) by 17.9% during the third quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Zacks Research lowered shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. 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 given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Horizon Bancorp (IN) has an average rating of “Hold” and an average target price of $20.33.

Horizon Bancorp (IN) Price Performance

Horizon Bancorp (IN) stock opened at $18.01 on Friday. The company’s 50 day simple moving average is $17.68 and its 200-day simple moving average is $16.66. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91. Horizon Bancorp has a 1 year low of $12.70 and a 1 year high of $19.07. The company has a market capitalization of $922.47 million, a price-to-earnings ratio of -5.72 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its 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. The firm 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%. As a group, equities research analysts expect that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s payout ratio is currently -20.32%.

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.