Kennedy Capital Management Inc. increased its stake in shares of Horizon Bancorp (NASDAQ:HBNC) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,408 shares of the financial services provider’s stock after buying an additional 12,756 shares during the quarter. Kennedy Capital Management Inc. owned about 0.42% of Horizon Bancorp worth $2,958,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of Horizon Bancorp by 7.4% in the second quarter. Northern Trust Corp now owns 244,531 shares of the financial services provider’s stock worth $6,444,000 after acquiring an additional 16,788 shares during the period. Vanguard Group Inc. raised its position in shares of Horizon Bancorp by 7.8% in the second quarter. Vanguard Group Inc. now owns 923,226 shares of the financial services provider’s stock worth $24,326,000 after acquiring an additional 66,713 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Horizon Bancorp by 70.6% in the second quarter. Parametric Portfolio Associates LLC now owns 13,938 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 5,768 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Horizon Bancorp by 20.7% in the second quarter. Goldman Sachs Group Inc. now owns 9,914 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 1,700 shares during the period. Finally, State Street Corp raised its position in shares of Horizon Bancorp by 28.1% in the second quarter. State Street Corp now owns 419,067 shares of the financial services provider’s stock worth $11,043,000 after acquiring an additional 91,901 shares during the period. 48.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HBNC stock traded up $0.03 during trading hours on Wednesday, reaching $30.19. 13,961 shares of the company traded hands, compared to its average volume of 85,510. Horizon Bancorp has a 12-month low of $24.41 and a 12-month high of $31.14. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $778.84, a price-to-earnings ratio of 20.88 and a beta of 1.09.
Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.06). The firm had revenue of $40.80 million during the quarter, compared to analysts’ expectations of $40.73 million. Horizon Bancorp had a net margin of 20.49% and a return on equity of 9.28%. research analysts anticipate that Horizon Bancorp will post 2.14 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. BidaskClub raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a research report on Friday, December 29th. Sandler O’Neill reaffirmed a “hold” rating and set a $29.50 price objective on shares of Horizon Bancorp in a research report on Wednesday, January 3rd. Piper Jaffray Companies reissued a “buy” rating and issued a $35.00 price target on shares of Horizon Bancorp in a research report on Monday, January 29th. Finally, ValuEngine raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Horizon Bancorp presently has an average rating of “Hold” and a consensus target price of $30.88.
In other Horizon Bancorp news, insider Dennis Kuhn sold 7,500 shares of Horizon Bancorp stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $30.00, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now owns 7,500 shares in the company, valued at $225,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.
Horizon Bancorp Company Profile
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.
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