Horizon Bancorp (IN) (NASDAQ:HBNC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in Horizon Bancorp (IN) (NASDAQ:HBNCFree Report) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,308 shares of the financial services provider’s stock after selling 3,592 shares during the period. Rhumbline Advisers’ holdings in Horizon Bancorp (IN) were worth $1,000,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Summit Global Investments purchased a new position in Horizon Bancorp (IN) during the first quarter worth about $210,000. GAMMA Investing LLC increased its position in shares of Horizon Bancorp (IN) by 2,288.2% during the first quarter. GAMMA Investing LLC now owns 15,834 shares of the financial services provider’s stock worth $2,390,000 after purchasing an additional 15,171 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Horizon Bancorp (IN) in the 4th quarter valued at $1,348,000. PharVision Advisers LLC acquired a new stake in shares of Horizon Bancorp (IN) during the fourth quarter worth about $235,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Horizon Bancorp (IN) by 7.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 118,369 shares of the financial services provider’s stock worth $1,907,000 after purchasing an additional 7,921 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBNC has been the topic of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Horizon Bancorp (IN) from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Friday, April 25th. Piper Sandler cut their price target on Horizon Bancorp (IN) from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Friday, June 6th.

View Our Latest Stock Analysis on Horizon Bancorp (IN)

Horizon Bancorp (IN) Price Performance

Shares of NASDAQ HBNC opened at $14.46 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $14.73 and a two-hundred day moving average price of $15.66. The firm has a market cap of $636.38 million, a PE ratio of 14.18 and a beta of 0.85. Horizon Bancorp has a fifty-two week low of $11.52 and a fifty-two week high of $19.18.

Horizon Bancorp (IN) (NASDAQ:HBNCGet Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. The business had revenue of $69.17 million for the quarter, compared to analyst estimates of $64.52 million. Horizon Bancorp (IN) had a return on equity of 9.56% and a net margin of 12.27%. Sell-side analysts expect that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Company Profile

(Free Report)

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.

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

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