Horizon Bancorp (IN) $HBNC Position Raised by Stieven Capital Advisors L.P.

Key Points

• Stieven Capital Advisors boosted its Horizon Bancorp stake by 18.4% in the fourth quarter, adding 69,000 shares to reach 444,000 shares valued at about $7.53 million.
• Horizon Bancorp reported better-than-expected quarterly earnings of $0.51 per share, though revenue came in below analyst estimates at $73.48 million.
• The company paid a quarterly dividend of $0.16 per share, equal to a 3.5% annualized yield, while analysts currently have an average Hold rating with a consensus target price of $20.67.

Stieven Capital Advisors L.P. increased its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,000 shares of the financial services provider's stock after purchasing an additional 69,000 shares during the period. Horizon Bancorp (IN) accounts for about 1.4% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 29th largest holding. Stieven Capital Advisors L.P. owned 0.87% of Horizon Bancorp (IN) worth $7,530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC raised its holdings in Horizon Bancorp (IN) by 3.9% during the second quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider's stock worth $382,000 after purchasing an additional 941 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Horizon Bancorp (IN) by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider's stock worth $388,000 after buying an additional 1,057 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Horizon Bancorp (IN) by 2.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 50,097 shares of the financial services provider's stock worth $850,000 after buying an additional 1,193 shares during the last quarter. Sanctuary Advisors LLC grew its position in Horizon Bancorp (IN) by 9.6% in the fourth quarter. Sanctuary Advisors LLC now owns 14,845 shares of the financial services provider's stock worth $252,000 after buying an additional 1,298 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Horizon Bancorp (IN) by 11.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,525 shares of the financial services provider's stock worth $245,000 after buying an additional 1,492 shares during the last quarter. Institutional investors own 64.51% of the company's stock.

Horizon Bancorp (IN) Trading Down 0.4%

NASDAQ HBNC opened at $18.34 on Friday. Horizon Bancorp has a twelve month low of $14.34 and a twelve month high of $19.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market cap of $941.39 million, a price-to-earnings ratio of -5.77 and a beta of 0.83. The firm's 50 day moving average price is $17.33 and its two-hundred day moving average price is $17.27.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The firm had revenue of $73.48 million for the quarter, compared to analysts' expectations of $76.11 million. Equities analysts anticipate that Horizon Bancorp will post 2.1 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

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

Wall Street Analysts Forecast Growth

HBNC has been the topic of several recent research reports. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, April 24th. Zacks Research upgraded shares of Horizon Bancorp (IN) from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Wall Street Zen lowered shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Stephens initiated coverage on shares of Horizon Bancorp (IN) in a research report on Friday, March 27th. They issued an "overweight" rating and a $20.00 price target on the stock. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.67.

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.

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