Thurston Springer Miller Herd & Titak Inc. Acquires New Position in Horizon Bancorp (IN) $HBNC

Thurston Springer Miller Herd & Titak Inc. bought a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 35,913 shares of the financial services provider’s stock, valued at approximately $609,000. Thurston Springer Miller Herd & Titak Inc. owned about 0.07% of Horizon Bancorp (IN) 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. Wellington Management Group LLP purchased a new position in shares of Horizon Bancorp (IN) during the third quarter worth approximately $24,842,000. Alliancebernstein L.P. grew its holdings in shares of Horizon Bancorp (IN) by 1,202.2% during the 3rd quarter. Alliancebernstein L.P. now owns 593,109 shares of the financial services provider’s stock valued at $9,496,000 after purchasing an additional 547,561 shares during the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of Horizon Bancorp (IN) during the 3rd quarter valued at $6,004,000. JPMorgan Chase & Co. raised its position in Horizon Bancorp (IN) by 452.9% in the 3rd 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. Finally, FJ Capital Management LLC purchased a new position in Horizon Bancorp (IN) in the 3rd quarter worth $4,237,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC opened at $16.76 on Friday. The firm has a market capitalization of $858.61 million, a P/E ratio of -5.32 and a beta of 0.80. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $17.07 and a 200 day moving average of $16.81. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.12% and a positive return on equity of 11.77%. The business had revenue of $64.53 million for the quarter, compared to analyst estimates of $74.35 million. On average, research analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, April 3rd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.64 annualized dividend and a dividend yield of 3.8%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -20.32%.

Wall Street Analysts Forecast Growth

HBNC has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Stephens started coverage on Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price for the company. Wall Street Zen raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Zacks Research upgraded Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Horizon Bancorp (IN) currently has a consensus rating of “Hold” and an average target price of $19.67.

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.