LSV Asset Management Reduces Holdings in Horizon Bancorp (IN) $HBNC

LSV Asset Management reduced its holdings in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 40.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,259 shares of the financial services provider’s stock after selling 269,294 shares during the quarter. LSV Asset Management’s holdings in Horizon Bancorp (IN) were worth $6,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stieven Capital Advisors L.P. increased its holdings in Horizon Bancorp (IN) by 18.4% during the 4th quarter. Stieven Capital Advisors L.P. now owns 444,000 shares of the financial services provider’s stock valued at $7,530,000 after acquiring an additional 69,000 shares in the last quarter. Mach 1 Financial Group LLC purchased a new position in Horizon Bancorp (IN) during the 4th quarter valued at about $190,000. GSA Capital Partners LLP purchased a new position in Horizon Bancorp (IN) during the 4th quarter valued at about $851,000. Jennison Associates LLC increased its holdings in Horizon Bancorp (IN) by 69.6% during the 4th quarter. Jennison Associates LLC now owns 1,242,365 shares of the financial services provider’s stock valued at $21,071,000 after acquiring an additional 509,775 shares in the last quarter. Finally, Keybank National Association OH increased its holdings in Horizon Bancorp (IN) by 35.8% during the 4th quarter. Keybank National Association OH now owns 33,745 shares of the financial services provider’s stock valued at $572,000 after acquiring an additional 8,899 shares in the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th. Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Stephens began coverage on shares of Horizon Bancorp (IN) in a report on Friday, March 27th. They set an “overweight” rating and a $20.00 price target for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $21.00 price target (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.67.

Horizon Bancorp (IN) Stock Performance

Shares of NASDAQ HBNC opened at $18.75 on Wednesday. The company has a market cap of $962.44 million, a PE ratio of -5.90 and a beta of 0.83. Horizon Bancorp has a 12 month low of $14.34 and a 12 month high of $19.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. The company has a 50-day simple moving average of $17.43 and a 200-day simple moving average of $17.32.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, topping 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 negative net margin of 37.28% and a positive return on equity of 12.41%. On average, equities analysts anticipate that Horizon Bancorp will post 2.1 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were issued 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 dividend yield of 3.4%. Horizon Bancorp (IN)’s payout ratio is -20.13%.

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.