Thurston Springer Miller Herd & Titak Inc. Takes $609,000 Position in Horizon Bancorp (IN) $HBNC

Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,913 shares of the financial services provider’s stock, valued at approximately $609,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBNC. PL Capital Advisors LLC raised its stake in 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 in the last quarter. Horizon Bancorp Inc. IN boosted its position in Horizon Bancorp (IN) by 61.5% during 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 acquiring an additional 221,620 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in Horizon Bancorp (IN) during the 3rd quarter valued at approximately $1,780,000. HoldCo Asset Management LP purchased a new position in shares of Horizon Bancorp (IN) during the 2nd quarter worth approximately $1,411,000. Finally, Siena Capital Partners GP LLC purchased a new position in shares of Horizon Bancorp (IN) during the 3rd quarter worth approximately $2,093,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Price Performance

HBNC stock opened at $16.76 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a 50 day moving average price of $17.07 and a 200-day moving average price of $16.81. Horizon Bancorp has a 52-week low of $12.70 and a 52-week high of $19.07. The firm has a market capitalization of $858.61 million, a price-to-earnings ratio of -5.32 and a beta of 0.80.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 11.77% and a negative net margin of 37.12%.The company had revenue of $64.53 million for the quarter, compared to the consensus estimate of $74.35 million. Equities research analysts forecast that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, April 3rd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio is currently -20.32%.

Wall Street Analysts Forecast Growth

HBNC has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price target on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Finally, Stephens initiated coverage on shares of Horizon Bancorp (IN) in a research report on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.67.

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.