Tradition Capital Management LLC increased its position in Horizon Bancorp (IN) (NASDAQ:HBNC) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,594 shares of the financial services provider’s stock after purchasing an additional 2,450 shares during the period. Tradition Capital Management LLC owned 229,690.32% of Horizon Bancorp (IN) worth $1,709,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Foundry Partners LLC boosted its stake in Horizon Bancorp (IN) by 8.2% in the third quarter. Foundry Partners LLC now owns 247,577 shares of the financial services provider’s stock valued at $7,222,000 after acquiring an additional 18,800 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Horizon Bancorp (IN) by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 1,101,483 shares of the financial services provider’s stock valued at $29,024,000 after acquiring an additional 29,557 shares during the period. State Street Corp boosted its stake in Horizon Bancorp (IN) by 28.1% in the second quarter. State Street Corp now owns 419,067 shares of the financial services provider’s stock valued at $11,043,000 after acquiring an additional 91,901 shares during the period. Goldman Sachs Group Inc. boosted its stake in Horizon Bancorp (IN) by 20.7% in the second quarter. Goldman Sachs Group Inc. now owns 9,914 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 1,700 shares during the period. Finally, Voya Investment Management LLC boosted its stake in Horizon Bancorp (IN) by 9.0% in the second quarter. Voya Investment Management LLC now owns 14,419 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 1,191 shares during the period. Institutional investors and hedge funds own 40.81% of the company’s stock.

HBNC has been the subject of a number of research reports. Piper Jaffray Companies set a $32.00 target price on Horizon Bancorp (IN) and gave the company a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $29.75.

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Shares of Horizon Bancorp (HBNC) traded down $0.08 during midday trading on Thursday, hitting $26.07. The stock had a trading volume of 8,767 shares, compared to its average volume of 68,369. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.96 and a current ratio of 0.97. The firm has a market capitalization of $667.18, a P/E ratio of 16.87 and a beta of 0.99. Horizon Bancorp has a fifty-two week low of $18.60 and a fifty-two week high of $29.25.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.04). The business had revenue of $35.90 million for the quarter, compared to analyst estimates of $37.81 million. Horizon Bancorp (IN) had a return on equity of 9.88% and a net margin of 20.03%. equities research analysts forecast that Horizon Bancorp will post 1.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.99%. Horizon Bancorp (IN)’s dividend payout ratio is presently 37.41%.

In other news, CEO Craig M. Dwight sold 15,365 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $27.42, for a total transaction of $421,308.30. Following the completion of the transaction, the chief executive officer now directly owns 150,625 shares in the company, valued at $4,130,137.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig M. Dwight sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.06, for a total value of $86,592.00. Following the transaction, the chief executive officer now owns 150,625 shares of the company’s stock, valued at $4,075,912.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,020 shares of company stock valued at $1,093,063. Insiders own 5.40% of the company’s stock.

About Horizon Bancorp (IN)

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.

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

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