Stieven Capital Advisors L.P. Purchases Shares of 375,000 Horizon Bancorp (IN) $HBNC

Stieven Capital Advisors L.P. acquired a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 375,000 shares of the financial services provider’s stock, valued at approximately $6,004,000. Stieven Capital Advisors L.P. owned about 0.73% of Horizon Bancorp (IN) at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Horizon Bancorp (IN) by 452.9% during the third quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock valued at $5,820,000 after acquiring an additional 297,799 shares during the period. Vanguard Group Inc. boosted its stake in Horizon Bancorp (IN) by 9.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,012,969 shares of the financial services provider’s stock valued at $48,238,000 after purchasing an additional 261,587 shares during the period. Horizon Bancorp Inc. IN grew its holdings in Horizon Bancorp (IN) by 61.5% in the 3rd quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock valued at $9,319,000 after buying an additional 221,620 shares during the last quarter. Kennedy Capital Management LLC bought a new position in Horizon Bancorp (IN) in the 3rd quarter worth approximately $3,530,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Horizon Bancorp (IN) by 129.9% during the third quarter. Russell Investments Group Ltd. now owns 381,664 shares of the financial services provider’s stock worth $6,110,000 after buying an additional 215,666 shares during the last quarter. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Price Performance

Shares of Horizon Bancorp (IN) stock opened at $15.89 on Friday. The firm’s 50-day moving average price is $17.41 and its two-hundred day moving average price is $16.85. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $19.07. The stock has a market capitalization of $813.89 million, a price-to-earnings ratio of -5.04 and a beta of 0.82. 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 (IN) (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%.The firm had revenue of $64.53 million during the quarter, compared to the consensus estimate of $74.35 million. On average, equities analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.64 annualized dividend and a yield of 4.0%. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HBNC shares. Zacks Research downgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Horizon Bancorp (IN) has a consensus rating of “Hold” and a consensus price target of $20.33.

Horizon Bancorp (IN) 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.