Elizabeth Park Capital Advisors Ltd. Has $4.35 Million Holdings in Horizon Bancorp (IN) $HBNC

Elizabeth Park Capital Advisors Ltd. raised its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 235.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,669 shares of the financial services provider’s stock after purchasing an additional 180,047 shares during the period. Horizon Bancorp (IN) accounts for 3.6% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 4th largest holding. Elizabeth Park Capital Advisors Ltd.’s holdings in Horizon Bancorp (IN) were worth $4,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Horizon Bancorp (IN) by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 1,057 shares during the last quarter. Empowered Funds LLC grew its holdings in Horizon Bancorp (IN) by 28.5% in the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 33,355 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Horizon Bancorp (IN) during the first quarter worth approximately $1,231,000. Rhumbline Advisers boosted its position in shares of Horizon Bancorp (IN) by 3.2% in the second quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock valued at $1,052,000 after acquiring an additional 2,093 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Horizon Bancorp (IN) during the second quarter worth $816,000. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Price Performance

Shares of HBNC stock opened at $19.25 on Thursday. The stock’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $17.62. Horizon Bancorp has a one year low of $14.34 and a one year high of $19.93. The firm has a market cap of $988.10 million, a price-to-earnings ratio of -6.05 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate 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 company had revenue of $73.48 million for the quarter, compared to the consensus estimate of $76.11 million. On average, analysts expect that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be paid a $0.16 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. Horizon Bancorp (IN)’s payout ratio is -20.13%.

Wall Street Analyst Weigh In

HBNC has been the topic of several research analyst reports. 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. Stephens started coverage on Horizon Bancorp (IN) in a research report on Friday, March 27th. They issued an “overweight” rating and a $20.00 price objective for the company. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Finally, Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.67.

Horizon Bancorp (IN) 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.