Jupiter Asset Management Ltd. Purchases Shares of 42,734 Horizon Bancorp (IN) $HBNC

Jupiter Asset Management Ltd. purchased a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 42,734 shares of the financial services provider’s stock, valued at approximately $684,000.

A number of other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Horizon Bancorp (IN) during the third quarter worth about $28,000. Tower Research Capital LLC TRC raised its position in Horizon Bancorp (IN) by 160.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 4,024 shares during the last quarter. Raymond James Financial Inc. bought a new position in Horizon Bancorp (IN) during the 2nd quarter valued at approximately $134,000. New York State Common Retirement Fund lifted its holdings in Horizon Bancorp (IN) by 17.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,600 shares during the period. Finally, AlphaQuest LLC grew its position in shares of Horizon Bancorp (IN) by 394.0% in the 2nd quarter. AlphaQuest LLC now owns 12,260 shares of the financial services provider’s stock worth $189,000 after buying an additional 9,778 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Horizon Bancorp (IN) Stock Up 0.8%

Shares of NASDAQ:HBNC opened at $18.08 on Monday. The firm has a market capitalization of $926.06 million, a P/E ratio of -5.74 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50 day moving average price of $17.68 and a 200-day moving average price of $16.76. Horizon Bancorp has a 52-week low of $12.70 and a 52-week high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities research analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -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.