10,856 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Acquired by Walleye Capital LLC

Walleye Capital LLC acquired a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 10,856 shares of the financial services provider’s stock, valued at approximately $169,000.

A number of other hedge funds have also recently made changes to their positions in HBNC. CWM LLC increased its holdings in Horizon Bancorp by 1,656.2% during the 2nd 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 period. Pathway Financial Advisers LLC increased its holdings in Horizon Bancorp by 44.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 2,740 shares during the period. Mackenzie Financial Corp purchased a new stake in Horizon Bancorp during the 2nd quarter worth about $133,000. Elser Financial Planning Inc purchased a new stake in Horizon Bancorp during the 2nd quarter worth about $137,000. Finally, Sanctuary Advisors LLC purchased a new stake in Horizon Bancorp during the 2nd quarter worth about $150,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Stock Up 0.1 %

Shares of NASDAQ HBNC opened at $17.77 on Thursday. The stock has a market cap of $776.82 million, a PE ratio of 37.81 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18. The business has a 50-day moving average price of $16.91 and a 200 day moving average price of $15.06.

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

Horizon Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a yield of 3.60%. Horizon Bancorp’s payout ratio is 136.17%.

Analyst Ratings Changes

HBNC has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Hovde Group assumed coverage on Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 price objective for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.75.

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.