First Trust Advisors LP Decreases Stake in Horizon Bancorp (HBNC)

First Trust Advisors LP decreased its position in Horizon Bancorp (NASDAQ:HBNC) by 25.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,420 shares of the financial services provider’s stock after selling 17,895 shares during the quarter. First Trust Advisors LP owned 0.21% of Horizon Bancorp worth $1,457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank grew its position in shares of Horizon Bancorp by 6.9% in the 4th quarter. Swiss National Bank now owns 40,400 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 2,600 shares in the last quarter. Bedel Financial Consulting Inc. acquired a new position in shares of Horizon Bancorp in the 4th quarter worth approximately $240,000. Teacher Retirement System of Texas acquired a new position in shares of Horizon Bancorp in the 4th quarter worth approximately $221,000. Maltese Capital Management LLC acquired a new position in shares of Horizon Bancorp in the 4th quarter worth approximately $1,251,000. Finally, Comerica Bank grew its position in shares of Horizon Bancorp by 25.4% in the 4th quarter. Comerica Bank now owns 196,291 shares of the financial services provider’s stock worth $5,612,000 after acquiring an additional 39,760 shares in the last quarter. Institutional investors own 48.73% of the company’s stock.

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Shares of HBNC stock opened at $29.19 on Friday. The stock has a market capitalization of $779.09, a P/E ratio of 20.27 and a beta of 1.09. Horizon Bancorp has a 1-year low of $24.41 and a 1-year high of $31.14. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.01 and a quick ratio of 1.01.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.06). The company had revenue of $40.80 million during the quarter, compared to the consensus estimate of $40.73 million. Horizon Bancorp had a return on equity of 9.28% and a net margin of 20.49%. analysts forecast that Horizon Bancorp will post 2.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Friday, April 6th will be issued a $0.15 dividend. This is an increase from Horizon Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, April 5th. This represents a $0.60 annualized dividend and a dividend yield of 2.06%. Horizon Bancorp’s dividend payout ratio (DPR) is 36.11%.

Several brokerages have recently commented on HBNC. ValuEngine upgraded Horizon Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. BidaskClub raised Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Piper Jaffray Companies reissued a “buy” rating and issued a $35.00 price target on shares of Horizon Bancorp in a report on Monday, January 29th. Zacks Investment Research downgraded Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $29.50 price target on shares of Horizon Bancorp in a report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.88.

In related news, insider Dennis Kuhn sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $30.00, for a total value of $225,000.00. Following the sale, the insider now owns 7,500 shares of the company’s stock, valued at approximately $225,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.40% of the company’s stock.

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Horizon Bancorp Company Profile

Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc The Company operates through commercial banking segment.

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Institutional Ownership by Quarter for Horizon Bancorp (NASDAQ:HBNC)

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