Horizon Bancorp (HBNC) Holdings Cut by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lowered its holdings in shares of Horizon Bancorp (NASDAQ:HBNC) by 29.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,900 shares of the financial services provider’s stock after selling 7,900 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Horizon Bancorp were worth $525,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in Horizon Bancorp by 28.1% during the second quarter. State Street Corp now owns 419,067 shares of the financial services provider’s stock worth $11,043,000 after purchasing an additional 91,901 shares in the last quarter. Rothschild Asset Management Inc. purchased a new position in Horizon Bancorp during the third quarter worth approximately $2,921,000. Northern Trust Corp boosted its position in Horizon Bancorp by 7.4% during the second quarter. Northern Trust Corp now owns 244,531 shares of the financial services provider’s stock worth $6,444,000 after purchasing an additional 16,788 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in Horizon Bancorp during the third quarter worth approximately $873,000. Finally, Dimensional Fund Advisors LP boosted its position in Horizon Bancorp by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 613,289 shares of the financial services provider’s stock worth $16,160,000 after purchasing an additional 41,432 shares in the last quarter. Institutional investors own 44.87% of the company’s stock.

In other news, CFO Mark E. Secor sold 7,103 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $27.30, for a total value of $193,911.90. Following the transaction, the chief financial officer now owns 10,183 shares in the company, valued at $277,995.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark E. Secor sold 8,803 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $27.27, for a total value of $240,057.81. Following the completion of the transaction, the chief financial officer now owns 10,183 shares in the company, valued at approximately $277,690.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,481 shares of company stock worth $1,564,423. Company insiders own 5.40% of the company’s stock.

A number of equities analysts have issued reports on HBNC shares. BidaskClub downgraded Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Zacks Investment Research downgraded Horizon Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Sandler O’Neill restated a “hold” rating and issued a $29.50 target price on shares of Horizon Bancorp in a research report on Wednesday, January 3rd. ValuEngine upgraded Horizon Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $35.00 target price on shares of Horizon Bancorp in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $30.88.

Horizon Bancorp (NASDAQ HBNC) opened at $29.19 on Thursday. The firm has a market capitalization of $742.97, a P/E ratio of 18.52 and a beta of 1.05. Horizon Bancorp has a 1 year low of $24.41 and a 1 year high of $30.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.96 and a quick ratio of 0.96.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). The firm had revenue of $40.80 million during the quarter, compared to analysts’ expectations of $40.73 million. Horizon Bancorp had a net margin of 20.49% and a return on equity of 9.85%. sell-side analysts expect that Horizon Bancorp will post 2.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 19th. Stockholders of record on Friday, January 5th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.78%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 36.11%.

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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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