Elizabeth Park Capital Advisors Ltd. Invests $1.23 Million in Horizon Bancorp (IN) $HBNC

Elizabeth Park Capital Advisors Ltd. bought a new stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) during the third quarter, Holdings Channel reports. The fund bought 76,622 shares of the financial services provider’s stock, valued at approximately $1,227,000.

A number of other institutional investors have also recently added to or reduced their stakes in HBNC. State of Alaska Department of Revenue purchased a new stake in Horizon Bancorp (IN) in the 3rd quarter worth $28,000. Tower Research Capital LLC TRC raised its position in Horizon Bancorp (IN) by 160.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 4,024 shares during the period. Raymond James Financial Inc. purchased a new position in Horizon Bancorp (IN) during the second quarter valued at $134,000. Quadrant Capital Group LLC acquired a new stake in shares of Horizon Bancorp (IN) in the third quarter valued at about $140,000. Finally, New York State Common Retirement Fund grew its position in shares of Horizon Bancorp (IN) by 17.9% in the third quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Price Performance

Shares of NASDAQ HBNC opened at $15.89 on Friday. The firm has a 50-day simple moving average of $17.41 and a 200-day simple moving average of $16.85. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $813.89 million, a price-to-earnings ratio of -5.04 and a beta of 0.82. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $19.07.

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 analysts’ consensus estimates of $0.50 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.12% and a positive return on equity of 11.56%. The firm had revenue of $64.53 million for the quarter, compared to analyst estimates 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) Dividend Announcement

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

Analysts Set New Price Targets

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

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.