Catalyst Capital Advisors LLC reduced its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 22.5% during the second quarter, Holdings Channel reports. The firm owned 13,400 shares of the financial services provider’s stock after selling 3,900 shares during the period. Catalyst Capital Advisors LLC’s holdings in Horizon Bancorp (IN) were worth $353,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in HBNC. Russell Investments Group Ltd. bought a new stake in Horizon Bancorp (IN) during the fourth quarter worth approximately $131,000. State Street Corp raised its stake in Horizon Bancorp (IN) by 91.0% in the fourth quarter. State Street Corp now owns 313,500 shares of the financial services provider’s stock worth $8,780,000 after buying an additional 149,342 shares during the period. Dimensional Fund Advisors LP raised its stake in Horizon Bancorp (IN) by 66.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,284 shares of the financial services provider’s stock worth $14,176,000 after buying an additional 202,919 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Horizon Bancorp (IN) by 52.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,410 shares of the financial services provider’s stock worth $375,000 after buying an additional 4,602 shares during the period. Finally, Teachers Advisors LLC raised its stake in Horizon Bancorp (IN) by 50.0% in the fourth quarter. Teachers Advisors LLC now owns 30,819 shares of the financial services provider’s stock worth $863,000 after buying an additional 10,272 shares during the period. Hedge funds and other institutional investors own 44.47% of the company’s stock.
Shares of Horizon Bancorp (NASDAQ HBNC) opened at 26.04 on Tuesday. The company has a market cap of $577.46 million, a price-to-earnings ratio of 19.59 and a beta of 0.98. The company’s 50 day moving average price is $26.35 and its 200 day moving average price is $26.08. Horizon Bancorp has a 12 month low of $17.70 and a 12 month high of $28.63.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. This is an increase from Horizon Bancorp (IN)’s previous quarterly dividend of $0.11. Horizon Bancorp (IN)’s payout ratio is currently 39.10%.
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A number of equities research analysts have commented on HBNC shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price target on shares of Horizon Bancorp (IN) in a research report on Wednesday, April 26th. Zacks Investment Research lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. ValuEngine upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Piper Jaffray Companies set a $32.00 price target on Horizon Bancorp (IN) and gave the company a “buy” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Horizon Bancorp (IN) currently has an average rating of “Buy” and a consensus price target of $29.50.
In other news, insider James D. Neff sold 4,799 shares of Horizon Bancorp (IN) stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $26.75, for a total value of $128,373.25. Following the transaction, the insider now owns 147,176 shares in the company, valued at $3,936,958. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.40% of the stock is currently owned by insiders.
Horizon Bancorp (IN) 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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