Swiss National Bank Has $1.36 Million Position in Horizon Bancorp Inc (HBNC)

Swiss National Bank lifted its stake in Horizon Bancorp Inc (NASDAQ:HBNC) by 63.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,850 shares of the financial services provider’s stock after acquiring an additional 25,450 shares during the period. Swiss National Bank owned 0.17% of Horizon Bancorp worth $1,362,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Horizon Bancorp by 0.8% in the 1st quarter. BlackRock Inc. now owns 1,297,390 shares of the financial services provider’s stock valued at $38,935,000 after acquiring an additional 10,427 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Horizon Bancorp by 1.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,052,950 shares of the financial services provider’s stock valued at $31,599,000 after acquiring an additional 15,266 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Horizon Bancorp by 18.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 901,624 shares of the financial services provider’s stock valued at $27,058,000 after acquiring an additional 140,749 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Horizon Bancorp by 120.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 776,885 shares of the financial services provider’s stock valued at $23,314,000 after acquiring an additional 424,540 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Horizon Bancorp by 54.8% in the 2nd quarter. Comerica Bank now owns 419,435 shares of the financial services provider’s stock valued at $8,632,000 after acquiring an additional 148,401 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Larry N. Middleton sold 2,500 shares of Horizon Bancorp stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $20.69, for a total transaction of $51,725.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dennis Kuhn sold 5,841 shares of Horizon Bancorp stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $20.72, for a total value of $121,025.52. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

A number of brokerages recently weighed in on HBNC. ValuEngine downgraded Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Zacks Investment Research lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. BidaskClub lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Finally, Stephens reaffirmed a “buy” rating and issued a $24.00 target price on shares of Horizon Bancorp in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Horizon Bancorp presently has a consensus rating of “Hold” and a consensus target price of $22.50.

HBNC opened at $19.34 on Tuesday. The company has a market capitalization of $757.66 million, a price-to-earnings ratio of 18.96 and a beta of 0.90. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.20. Horizon Bancorp Inc has a 12-month low of $17.07 and a 12-month high of $22.13.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, July 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $42.48 million for 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%. Research analysts expect that Horizon Bancorp Inc will post 1.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, October 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, October 4th. Horizon Bancorp’s dividend payout ratio (DPR) is currently 39.22%.

Horizon Bancorp Company 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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