UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 797 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,448 shares of the financial services provider’s stock after selling 797 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Horizon Bancorp were worth $1,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. CWM LLC increased its position in Horizon Bancorp by 1,656.2% in the second quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 3,064 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Horizon Bancorp by 44.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,740 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Horizon Bancorp during the 2nd quarter valued at about $133,000. Sanctuary Advisors LLC bought a new position in shares of Horizon Bancorp in the 2nd quarter valued at about $150,000. Finally, SG Americas Securities LLC purchased a new position in Horizon Bancorp in the second quarter worth about $198,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Up 1.0 %

Shares of NASDAQ HBNC opened at $17.77 on Tuesday. Horizon Bancorp, Inc. has a 1 year low of $11.18 and a 1 year high of $19.18. The firm has a 50-day simple moving average of $17.09 and a two-hundred day simple moving average of $15.20. The company has a market cap of $776.82 million, a P/E ratio of 37.81 and a beta of 1.05. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.27% and a net margin of 5.89%. The firm had revenue of $102.40 million during the quarter, compared to analyst estimates of $58.23 million. During the same period last year, the company earned $0.37 EPS. Research analysts anticipate that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HBNC. Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Hovde Group initiated coverage on Horizon Bancorp in a report on Monday, September 30th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.