Northern Trust Corp Has $6.44 Million Holdings in Horizon Bancorp (IN) (HBNC)

Northern Trust Corp raised its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,531 shares of the financial services provider’s stock after buying an additional 16,788 shares during the quarter. Northern Trust Corp owned 1.10% of Horizon Bancorp (IN) worth $6,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Horizon Bancorp (IN) by 2.6% in the first quarter. Vanguard Group Inc. now owns 856,513 shares of the financial services provider’s stock valued at $22,457,000 after buying an additional 21,429 shares during the period. Dimensional Fund Advisors LP lifted its stake in Horizon Bancorp (IN) by 13.0% in the first quarter. Dimensional Fund Advisors LP now owns 571,857 shares of the financial services provider’s stock valued at $14,994,000 after buying an additional 65,573 shares during the period. Renaissance Technologies LLC lifted its stake in Horizon Bancorp (IN) by 20.8% in the first quarter. Renaissance Technologies LLC now owns 290,070 shares of the financial services provider’s stock valued at $7,606,000 after buying an additional 49,900 shares during the period. Geode Capital Management LLC lifted its stake in Horizon Bancorp (IN) by 5.0% in the first quarter. Geode Capital Management LLC now owns 164,916 shares of the financial services provider’s stock valued at $4,324,000 after buying an additional 7,881 shares during the period. Finally, Thrivent Financial For Lutherans acquired a new position in Horizon Bancorp (IN) in the second quarter valued at about $3,951,000. 41.26% of the stock is currently owned by hedge funds and other institutional investors.

HBNC has been the topic of several analyst reports. Piper Jaffray Companies set a $32.00 target price on Horizon Bancorp (IN) and gave the company a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Horizon Bancorp (IN) has a consensus rating of “Buy” and an average target price of $29.75.

Horizon Bancorp (NASDAQ HBNC) opened at $26.52 on Tuesday. Horizon Bancorp has a one year low of $20.83 and a one year high of $29.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $668.91, a PE ratio of 16.93 and a beta of 0.99.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Horizon Bancorp (IN) had a return on equity of 9.58% and a net margin of 20.03%. The business had revenue of $35.90 million during the quarter, compared to the consensus estimate of $37.81 million. equities research analysts expect that Horizon Bancorp will post 1.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, October 6th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently 37.41%.

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In other Horizon Bancorp (IN) news, CEO Craig M. Dwight sold 3,200 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $27.06, for a total value of $86,592.00. Following the completion of the sale, the chief executive officer now directly owns 150,625 shares in the company, valued at $4,075,912.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Craig M. Dwight sold 15,365 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $27.42, for a total value of $421,308.30. Following the completion of the sale, the chief executive officer now owns 150,625 shares of the company’s stock, valued at $4,130,137.50. The disclosure for this sale can be found here. Insiders sold 41,020 shares of company stock valued at $1,093,063 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

About Horizon Bancorp (IN)

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

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