Horizon Bancorp (IN) $HBNC Shares Bought by PL Capital Advisors LLC

PL Capital Advisors LLC increased its position in Horizon Bancorp (IN) (NASDAQ:HBNC) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,812,825 shares of the financial services provider’s stock after buying an additional 121,651 shares during the period. Horizon Bancorp (IN) accounts for approximately 9.7% of PL Capital Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. PL Capital Advisors LLC owned about 3.54% of Horizon Bancorp (IN) worth $30,746,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Horizon Bancorp (IN) by 65.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after buying an additional 660 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Horizon Bancorp (IN) by 160.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after buying an additional 4,024 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Horizon Bancorp (IN) in the 2nd quarter valued at about $134,000. Quadrant Capital Group LLC acquired a new stake in shares of Horizon Bancorp (IN) in the 3rd quarter valued at about $140,000. Finally, New York State Common Retirement Fund grew its stake in shares of Horizon Bancorp (IN) by 17.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,600 shares during the period. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen downgraded Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Zacks Research upgraded Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Stephens assumed coverage on Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price for the company. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.67.

Horizon Bancorp (IN) Price Performance

HBNC stock opened at $18.43 on Thursday. The company has a market capitalization of $946.01 million, a P/E ratio of -5.80 and a beta of 0.83. 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 has a 52-week low of $14.34 and a 52-week high of $19.07. The business has a 50-day simple moving average of $17.48 and a two-hundred day simple moving average of $17.34.

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

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, April 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, April 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.5%. Horizon Bancorp (IN)’s payout ratio is -20.13%.

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.