HighTower Advisors LLC Has $196,000 Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

HighTower Advisors LLC lessened its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 88.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,601 shares of the financial services provider’s stock after selling 100,000 shares during the quarter. HighTower Advisors LLC’s holdings in Horizon Bancorp were worth $196,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Horizon Bancorp by 114.2% during the third quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock valued at $108,000 after buying an additional 3,709 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Horizon Bancorp by 44.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 2,740 shares during the last quarter. Centiva Capital LP bought a new position in shares of Horizon Bancorp in the 3rd quarter valued at approximately $163,000. Mackenzie Financial Corp acquired a new stake in Horizon Bancorp in the 2nd quarter worth approximately $133,000. Finally, Walleye Capital LLC bought a new stake in Horizon Bancorp during the third quarter worth approximately $169,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HBNC shares. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Hovde Group began coverage on shares of Horizon Bancorp in a report on Monday, September 30th. They set an “outperform” rating and a $18.00 price target for the company.

Horizon Bancorp Stock Up 0.7 %

HBNC stock opened at $16.35 on Thursday. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The company has a market cap of $714.74 million, a PE ratio of 34.79 and a beta of 1.05. The business’s 50-day simple moving average is $17.26 and its 200 day simple moving average is $15.40.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $58.23 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, research analysts anticipate that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.64 annualized dividend and a yield of 3.91%. Horizon Bancorp’s dividend payout ratio is 136.17%.

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.