PL Capital Advisors LLC Reduces Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

PL Capital Advisors LLC cut its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,520,090 shares of the financial services provider’s stock after selling 100,000 shares during the quarter. Horizon Bancorp makes up approximately 7.5% of PL Capital Advisors LLC’s investment portfolio, making the stock its 5th largest holding. PL Capital Advisors LLC owned approximately 3.45% of Horizon Bancorp worth $21,752,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EMC Capital Management raised its position in shares of Horizon Bancorp by 15.0% in the third quarter. EMC Capital Management now owns 9,709 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,267 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Horizon Bancorp by 75.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,680 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 5,009 shares during the period. Gamco Investors INC. ET AL increased its position in Horizon Bancorp by 13.6% during the third quarter. Gamco Investors INC. ET AL now owns 12,500 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 1,500 shares during the period. AMI Investment Management Inc. increased its position in Horizon Bancorp by 12.0% during the third quarter. AMI Investment Management Inc. now owns 12,527 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 1,341 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its position in Horizon Bancorp by 21.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 15,056 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 2,650 shares during the period. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp Price Performance

NASDAQ:HBNC opened at $11.66 on Friday. Horizon Bancorp, Inc. has a 52 week low of $7.69 and a 52 week high of $14.71. The firm has a market cap of $514.32 million, a price-to-earnings ratio of 21.59 and a beta of 1.02. The firm’s 50-day simple moving average is $12.08 and its 200 day simple moving average is $12.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.70 and a current ratio of 0.70.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $21.81 million for the quarter, compared to the consensus estimate of $51.50 million. Horizon Bancorp had a net margin of 7.02% and a return on equity of 8.75%. As a group, sell-side analysts predict that Horizon Bancorp, Inc. will post 1.33 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a $0.16 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.49%. Horizon Bancorp’s payout ratio is currently 118.52%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th.

Horizon Bancorp Company Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.