Siena Capital Partners GP LLC Has $3.39 Million Stake in Horizon Bancorp (IN) $HBNC

Siena Capital Partners GP LLC boosted its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 53.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the financial services provider’s stock after purchasing an additional 69,286 shares during the quarter. Siena Capital Partners GP LLC’s holdings in Horizon Bancorp (IN) were worth $3,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Horizon Bancorp (IN) by 65.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Horizon Bancorp (IN) by 160.2% in 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 buying an additional 4,024 shares during the period. Raymond James Financial Inc. bought a new position in Horizon Bancorp (IN) in the 2nd quarter valued at about $134,000. Quadrant Capital Group LLC bought a new position in Horizon Bancorp (IN) in the 3rd quarter valued at about $140,000. Finally, New York State Common Retirement Fund increased 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 valued at $168,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HBNC. Wall Street Zen lowered shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Stephens began coverage on shares of Horizon Bancorp (IN) in a report on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price on the stock. Piper Sandler reissued a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th. Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Finally, Weiss Ratings raised shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Horizon Bancorp (IN) has an average rating of “Hold” and an average price target of $20.67.

Horizon Bancorp (IN) Stock Performance

Shares of Horizon Bancorp (IN) stock opened at $18.75 on Monday. The firm has a market capitalization of $962.44 million, a PE ratio of -5.90 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $17.84 and its 200 day moving average is $17.46. Horizon Bancorp has a 1 year low of $14.34 and a 1 year high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $73.48 million for the quarter, compared to analyst estimates of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. Equities research analysts forecast that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.4%. Horizon Bancorp (IN)’s payout ratio is -20.13%.

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.