Horizon Bancorp (IN) $HBNC Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 42.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,327 shares of the financial services provider’s stock after selling 40,052 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.11% of Horizon Bancorp (IN) worth $869,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. HoldCo Asset Management LP acquired a new position in Horizon Bancorp (IN) in the second quarter worth $1,411,000. Deprince Race & Zollo Inc. acquired a new stake in shares of Horizon Bancorp (IN) during the third quarter worth $1,780,000. Horizon Bancorp Inc. IN lifted its position in shares of Horizon Bancorp (IN) by 61.5% in the 3rd quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock worth $9,319,000 after buying an additional 221,620 shares during the last quarter. Creative Planning lifted its position in shares of Horizon Bancorp (IN) by 88.1% in the 2nd quarter. Creative Planning now owns 115,125 shares of the financial services provider’s stock worth $1,771,000 after buying an additional 53,924 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Horizon Bancorp (IN) by 95.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,665 shares of the financial services provider’s stock valued at $2,056,000 after buying an additional 65,375 shares during the period. Institutional investors own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HBNC shares. Keefe, Bruyette & Woods increased their price objective on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Zacks Research lowered Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.33.

Horizon Bancorp (IN) Trading Up 1.4%

Horizon Bancorp (IN) stock opened at $18.01 on Monday. Horizon Bancorp has a 52-week low of $12.70 and a 52-week high of $19.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $922.47 million, a price-to-earnings ratio of -5.72 and a beta of 0.83. The firm has a 50-day moving average price of $17.68 and a two-hundred day moving average price of $16.66.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $64.53 million for the quarter, compared to analysts’ expectations of $74.35 million. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%. Sell-side analysts expect that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s payout ratio is -20.32%.

Horizon Bancorp (IN) Company 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.