Siena Capital Partners GP LLC Takes $2.09 Million Position in Horizon Bancorp (IN) $HBNC

Siena Capital Partners GP LLC purchased a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC) in the third quarter, HoldingsChannel reports. The fund purchased 130,714 shares of the financial services provider’s stock, valued at approximately $2,093,000.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Horizon Bancorp (IN) by 452.9% during the third quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock valued at $5,820,000 after purchasing an additional 297,799 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Horizon Bancorp (IN) by 9.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,012,969 shares of the financial services provider’s stock worth $48,238,000 after purchasing an additional 261,587 shares during the period. CSM Advisors LLC bought a new position in shares of Horizon Bancorp (IN) during the 2nd quarter valued at approximately $3,479,000. Horizon Bancorp Inc. IN raised its holdings in Horizon Bancorp (IN) by 61.5% during the 3rd quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock valued at $9,319,000 after buying an additional 221,620 shares during the period. Finally, PL Capital Advisors LLC raised its holdings in Horizon Bancorp (IN) by 13.4% during the 3rd quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock valued at $27,076,000 after buying an additional 200,000 shares during the period. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp (IN) Stock Performance

Shares of Horizon Bancorp (IN) stock opened at $16.84 on Friday. 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’s fifty day moving average is $17.58 and its two-hundred day moving average is $16.82. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $19.07. The company has a market capitalization of $862.54 million, a PE ratio of -5.35 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $64.53 million during the quarter, compared to the consensus estimate of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%. As a group, analysts expect that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a dividend of $0.16 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.8%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -20.32%.

Analysts Set New Price Targets

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

Horizon Bancorp (IN) Company 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.