PL Capital Advisors LLC Sells 100,000 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

PL Capital Advisors LLC cut its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,520,090 shares of the financial services provider's stock after selling 100,000 shares during the period. Horizon Bancorp accounts for 7.5% of PL Capital Advisors LLC's portfolio, making the stock its 5th largest holding. PL Capital Advisors LLC owned 3.45% of Horizon Bancorp worth $21,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Horizon Bancorp by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider's stock valued at $23,325,000 after acquiring an additional 34,861 shares during the last quarter. Sapient Capital LLC bought a new stake in Horizon Bancorp in the 4th quarter valued at $26,515,000. AQR Capital Management LLC increased its holdings in Horizon Bancorp by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 634,821 shares of the financial services provider's stock valued at $6,780,000 after acquiring an additional 44,810 shares during the last quarter. Harbour Trust & Investment Management Co purchased a new position in shares of Horizon Bancorp in the 4th quarter worth $6,167,000. Finally, Pacific Ridge Capital Partners LLC grew its stake in shares of Horizon Bancorp by 31.5% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 394,602 shares of the financial services provider's stock worth $4,214,000 after buying an additional 94,581 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Horizon Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, April 10th.

Horizon Bancorp Stock Performance

Shares of HBNC stock traded down $0.19 during trading hours on Friday, hitting $11.66. The company's stock had a trading volume of 123,327 shares, compared to its average volume of 155,015. The company has a 50 day moving average of $12.08 and a 200 day moving average of $12.12. The stock has a market cap of $514.32 million, a PE ratio of 21.59 and a beta of 1.02. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.16. Horizon Bancorp, Inc. has a 12-month low of $7.69 and a 12-month high of $14.71.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The firm had revenue of $21.81 million for the quarter, compared to the consensus estimate of $51.50 million. Horizon Bancorp had a net margin of 7.02% and a return on equity of 8.75%. On average, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.33 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp's dividend payout ratio (DPR) is 118.52%.

About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.