Horizon Bancorp (IN) (NASDAQ:HBNC) Short Interest Down 14.1% in February

Horizon Bancorp (IN) (NASDAQ:HBNC) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,201,131 shares, a decrease of 14.1% from the February 12th total of 1,398,860 shares. Based on an average daily trading volume, of 426,576 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.4% of the company’s shares are short sold. Approximately 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 426,576 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PL Capital Advisors LLC lifted its holdings in shares of Horizon Bancorp (IN) by 13.4% in the 3rd quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock worth $27,076,000 after purchasing an additional 200,000 shares in the last quarter. HoldCo Asset Management LP bought a new stake in Horizon Bancorp (IN) during the 2nd quarter valued at $1,411,000. Horizon Bancorp Inc. IN raised its holdings in Horizon Bancorp (IN) by 61.5% during the third quarter. Horizon Bancorp Inc. IN now owns 582,099 shares of the financial services provider’s stock worth $9,319,000 after buying an additional 221,620 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Horizon Bancorp (IN) in the third quarter valued at $1,780,000. Finally, Siena Capital Partners GP LLC acquired a new position in shares of Horizon Bancorp (IN) during the third quarter valued at about $2,093,000. Institutional investors own 64.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HBNC shares. Zacks Research lowered shares of Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.33.

Horizon Bancorp (IN) Stock Down 0.3%

NASDAQ HBNC traded down $0.05 on Tuesday, hitting $15.89. 311,476 shares of the company were exchanged, compared to its average volume of 376,291. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. The company has a market cap of $813.89 million, a PE ratio of -5.04 and a beta of 0.82. The stock has a fifty day moving average of $17.39 and a 200-day moving average of $16.85. Horizon Bancorp has a 12 month low of $12.70 and a 12 month high of $19.07.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm had revenue of $64.53 million during the quarter, compared to the consensus estimate of $74.35 million. Horizon Bancorp (IN) had a negative net margin of 37.12% and a positive return on equity of 11.56%. As a group, analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Company 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.