Maltese Capital Management LLC Has $13.44 Million Stock Holdings in Horizon Bancorp (IN) $HBNC

Maltese Capital Management LLC lessened its holdings in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 792,500 shares of the financial services provider’s stock after selling 49,200 shares during the quarter. Horizon Bancorp (IN) comprises approximately 2.4% of Maltese Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Maltese Capital Management LLC owned 1.55% of Horizon Bancorp (IN) worth $13,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Siena Capital Partners GP LLC bought a new position in Horizon Bancorp (IN) during the third quarter worth about $2,093,000. Stieven Capital Advisors L.P. boosted its position in Horizon Bancorp (IN) by 18.4% during the fourth quarter. Stieven Capital Advisors L.P. now owns 444,000 shares of the financial services provider’s stock worth $7,530,000 after purchasing an additional 69,000 shares during the period. Jupiter Asset Management Ltd. bought a new position in Horizon Bancorp (IN) during the third quarter worth about $684,000. Hillsdale Investment Management Inc. boosted its position in Horizon Bancorp (IN) by 22.5% during the third quarter. Hillsdale Investment Management Inc. now owns 412,830 shares of the financial services provider’s stock worth $6,609,000 after purchasing an additional 75,750 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Horizon Bancorp (IN) by 452.9% during the third quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock worth $5,820,000 after purchasing an additional 297,799 shares during the period. Institutional investors own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Horizon Bancorp (IN) Trading Down 2.2%

Shares of Horizon Bancorp (IN) stock opened at $19.32 on Tuesday. Horizon Bancorp has a 12-month low of $14.34 and a 12-month high of $19.93. The company has a market cap of $991.70 million, a price-to-earnings ratio of -6.08 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 company’s 50-day moving average price is $18.18 and its 200-day moving average price is $17.59.

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, topping analysts’ consensus estimates of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The firm had revenue of $73.48 million for the quarter, compared to the consensus estimate of $76.11 million. On average, equities analysts expect that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.

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.