Prudential Financial Inc. increased its position in shares of Horizon Bancorp Inc (NASDAQ:HBNC) by 14.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,451 shares of the financial services provider’s stock after buying an additional 4,585 shares during the quarter. Prudential Financial Inc. owned about 0.09% of Horizon Bancorp worth $400,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Horizon Bancorp during the 1st quarter valued at approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Horizon Bancorp by 82.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,722 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,684 shares during the period. Woodley Farra Manion Portfolio Management Inc. raised its position in shares of Horizon Bancorp by 55.9% during the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 8,505 shares of the financial services provider’s stock valued at $91,000 after buying an additional 3,050 shares during the period. Hancock Whitney Corp purchased a new stake in shares of Horizon Bancorp during the 1st quarter valued at approximately $106,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Horizon Bancorp during the 2nd quarter valued at approximately $109,000. 51.93% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:HBNC opened at $10.49 on Thursday. The company has a fifty day simple moving average of $10.86 and a two-hundred day simple moving average of $10.56. The company has a market cap of $460.24 million, a price-to-earnings ratio of 7.18 and a beta of 1.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.07. Horizon Bancorp Inc has a 52 week low of $7.42 and a 52 week high of $19.48.
Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.10. The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $52.50 million. Horizon Bancorp had a net margin of 25.36% and a return on equity of 10.12%. On average, analysts expect that Horizon Bancorp Inc will post 1.32 EPS for the current year.
Several analysts have recently commented on HBNC shares. ValuEngine lowered shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zacks Investment Research downgraded shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, BidaskClub downgraded shares of Horizon Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.25.
Horizon Bancorp Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides commercial and retail banking services. The company offers demand and time deposits. Its loan portfolio comprises commercial, residential real estate, mortgage warehouse, and consumer loans. The company also provides corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
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