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

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PL Capital Advisors LLC increased its holdings in Horizon Bancorp Inc (NASDAQ:HBNC) by 50.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,333,712 shares of the financial services provider’s stock after buying an additional 444,570 shares during the quarter. Horizon Bancorp comprises 7.2% of PL Capital Advisors LLC’s portfolio, making the stock its 5th largest holding. PL Capital Advisors LLC owned about 3.48% of Horizon Bancorp worth $27,595,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp boosted its stake in Horizon Bancorp by 0.8% during the 1st quarter. Northern Trust Corp now owns 263,338 shares of the financial services provider’s stock valued at $7,903,000 after purchasing an additional 2,008 shares in the last quarter. ClariVest Asset Management LLC boosted its stake in Horizon Bancorp by 3.7% during the 1st quarter. ClariVest Asset Management LLC now owns 59,013 shares of the financial services provider’s stock valued at $1,771,000 after purchasing an additional 2,112 shares in the last quarter. Foundry Partners LLC boosted its stake in Horizon Bancorp by 0.9% during the 1st quarter. Foundry Partners LLC now owns 240,027 shares of the financial services provider’s stock valued at $7,203,000 after purchasing an additional 2,125 shares in the last quarter. Tradition Capital Management LLC boosted its stake in Horizon Bancorp by 4.5% during the 1st quarter. Tradition Capital Management LLC now owns 61,302 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 2,665 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. boosted its stake in Horizon Bancorp by 5.9% during the 1st quarter. Thomson Horstmann & Bryant Inc. now owns 49,619 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 2,772 shares in the last quarter. 44.51% of the stock is owned by institutional investors and hedge funds.

HBNC has been the subject of several research reports. Zacks Investment Research raised Horizon Bancorp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, August 7th. BidaskClub lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Stephens reissued a “buy” rating and set a $24.00 price objective on shares of Horizon Bancorp in a research note on Friday, July 27th. Finally, ValuEngine lowered Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.50.

In other news, insider Dennis Kuhn sold 5,841 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $20.72, for a total transaction of $121,025.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig M. Dwight sold 2,250 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $31.35, for a total value of $70,537.50. Following the sale, the chief executive officer now directly owns 148,996 shares of the company’s stock, valued at $4,671,024.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,175 shares of company stock valued at $292,071. Corporate insiders own 4.60% of the company’s stock.

HBNC opened at $20.84 on Tuesday. The firm has a market cap of $799.09 million, a PE ratio of 20.43 and a beta of 1.01. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.99 and a quick ratio of 0.99. Horizon Bancorp Inc has a fifty-two week low of $16.67 and a fifty-two week high of $22.13.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $42.48 million during the quarter, compared to analyst estimates of $42.33 million. Horizon Bancorp had a return on equity of 10.03% and a net margin of 23.28%. equities research analysts forecast that Horizon Bancorp Inc will post 1.46 earnings per share for the current fiscal year.

Horizon Bancorp Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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Institutional Ownership by Quarter for Horizon Bancorp (NASDAQ:HBNC)

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