Horizon Bancorp (IN) $HBNC Stock Holdings Lessened by Maltese Capital Management LLC

Maltese Capital Management LLC reduced its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 5.8% during the fourth quarter, HoldingsChannel reports. The firm owned 792,500 shares of the financial services provider’s stock after selling 49,200 shares during the period. Horizon Bancorp (IN) comprises about 2.4% of Maltese Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Maltese Capital Management LLC’s holdings in Horizon Bancorp (IN) were worth $13,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of HBNC. EverSource Wealth Advisors LLC raised its stake in Horizon Bancorp (IN) by 65.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 660 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Horizon Bancorp (IN) by 160.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 4,024 shares in the last quarter. Rossby Financial LCC purchased a new stake in Horizon Bancorp (IN) in the fourth quarter valued at approximately $124,000. Raymond James Financial Inc. purchased a new stake in Horizon Bancorp (IN) in the second quarter valued at approximately $134,000. Finally, Quadrant Capital Group LLC purchased a new stake in Horizon Bancorp (IN) in the third quarter valued at approximately $140,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp (IN) Trading Down 2.2%

HBNC stock opened at $19.32 on Tuesday. The company has a market capitalization of $991.70 million, a PE ratio of -6.08 and a beta of 0.83. Horizon Bancorp has a one year low of $14.34 and a one year high of $19.93. The company’s 50 day moving average price is $18.18 and its two-hundred day moving average price is $17.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.91.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $73.48 million for the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. As a group, analysts predict that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HBNC shares. Stephens initiated coverage on shares of Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price on the stock. Wall Street Zen downgraded shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings raised shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Piper Sandler reissued a “neutral” rating and set a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Finally, Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.67.

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.