Valeo Financial Advisors LLC Purchases New Stake in Horizon Bancorp (IN) $HBNC

Valeo Financial Advisors LLC purchased a new stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in the 2nd quarter, Holdings Channel reports. The fund purchased 34,367 shares of the financial services provider’s stock, valued at approximately $529,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of Horizon Bancorp (IN) during the 1st quarter worth about $5,296,000. BlackBarn Capital Partners LP acquired a new position in shares of Horizon Bancorp (IN) in the first quarter valued at approximately $4,524,000. CSM Advisors LLC bought a new position in shares of Horizon Bancorp (IN) during the second quarter worth approximately $3,479,000. Vanguard Group Inc. increased its stake in shares of Horizon Bancorp (IN) by 5.8% during the first quarter. Vanguard Group Inc. now owns 2,594,577 shares of the financial services provider’s stock worth $39,126,000 after purchasing an additional 142,298 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Horizon Bancorp (IN) by 23.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 576,510 shares of the financial services provider’s stock worth $8,694,000 after purchasing an additional 109,580 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HBNC has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday. Zacks Research cut shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Horizon Bancorp (IN) in a report on Tuesday, December 2nd. Finally, Stephens raised their target price on shares of Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Horizon Bancorp (IN) presently has an average rating of “Hold” and an average target price of $19.67.

Horizon Bancorp (IN) Trading Down 1.3%

Shares of HBNC stock opened at $18.13 on Thursday. Horizon Bancorp has a fifty-two week low of $12.70 and a fifty-two week high of $18.70. The stock’s fifty day moving average price is $16.45 and its two-hundred day moving average price is $16.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $928.62 million, a PE ratio of -4.61 and a beta of 0.84.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). Horizon Bancorp (IN) had a positive return on equity of 10.01% and a negative net margin of 51.01%.The company had revenue of $59.98 million for the quarter, compared to analyst estimates of $69.34 million. Equities analysts predict that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, January 2nd. Horizon Bancorp (IN)’s payout ratio is -16.28%.

Horizon Bancorp (IN) Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.