Rhumbline Advisers lifted its stake in Horizon Bancorp Inc (NASDAQ:HBNC) by 46.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,679 shares of the financial services provider’s stock after acquiring an additional 17,148 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Horizon Bancorp worth $847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in shares of Horizon Bancorp by 1,727.7% during the fourth quarter. Bank of Montreal Can now owns 4,679 shares of the financial services provider’s stock worth $74,000 after buying an additional 4,423 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Horizon Bancorp by 1.2% during the third quarter. Vanguard Group Inc now owns 1,649,159 shares of the financial services provider’s stock worth $32,571,000 after buying an additional 20,129 shares in the last quarter. Federated Investors Inc. PA increased its holdings in shares of Horizon Bancorp by 62.8% during the third quarter. Federated Investors Inc. PA now owns 57,210 shares of the financial services provider’s stock worth $1,130,000 after buying an additional 22,065 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Horizon Bancorp by 1.2% during the third quarter. Vanguard Group Inc. now owns 1,649,159 shares of the financial services provider’s stock worth $32,571,000 after buying an additional 20,129 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Horizon Bancorp by 5.9% during the third quarter. TIAA CREF Investment Management LLC now owns 138,681 shares of the financial services provider’s stock worth $2,739,000 after buying an additional 7,687 shares in the last quarter. 53.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Horizon Bancorp stock opened at $16.96 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $650.84 million, a P/E ratio of 13.35 and a beta of 1.02. Horizon Bancorp Inc has a fifty-two week low of $14.79 and a fifty-two week high of $22.13.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The company had revenue of $42.31 million during the quarter, compared to analyst estimates of $43.50 million. Horizon Bancorp had a net margin of 26.48% and a return on equity of 10.59%. Equities analysts predict that Horizon Bancorp Inc will post 1.57 earnings per share for the current fiscal year.

A number of analysts recently weighed in on HBNC shares. Stephens reissued a “buy” rating and issued a $20.00 price target on shares of Horizon Bancorp in a report on Wednesday, December 19th. BidaskClub raised shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 25th. Zacks Investment Research lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, ValuEngine raised shares of Horizon Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.00.

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About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers non-interest bearing and interest-bearing demand deposits, savings accounts, money market deposits, and time deposits. Its loan portfolio comprises commercial, financial, agricultural, and commercial tax-exempt loans; and real estate, mortgage warehouse, and consumer loans.

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

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