AMI Investment Management Inc. Grows Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

AMI Investment Management Inc. lifted its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,932 shares of the financial services provider’s stock after purchasing an additional 1,109 shares during the quarter. AMI Investment Management Inc.’s holdings in Horizon Bancorp were worth $192,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Horizon Bancorp by 37.4% during the third quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 28,999 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Horizon Bancorp by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 1,703 shares during the last quarter. Barclays PLC grew its position in Horizon Bancorp by 62.7% in the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after acquiring an additional 42,218 shares in the last quarter. Geode Capital Management LLC increased its stake in Horizon Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after acquiring an additional 52,423 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Horizon Bancorp during the third quarter valued at about $236,000. 64.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HBNC has been the subject of a number of research reports. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Hovde Group began coverage on Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Horizon Bancorp Stock Up 1.3 %

HBNC opened at $15.83 on Monday. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The business’s 50-day moving average price is $17.11 and its 200-day moving average price is $15.89. The company has a market cap of $692.09 million, a P/E ratio of 33.68 and a beta of 1.08.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $102.40 million for 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 previous year, the firm earned $0.37 EPS. On average, equities analysts expect that Horizon Bancorp, Inc. will post 1.4 EPS for the current year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 4.04%. Horizon Bancorp’s dividend payout ratio is currently 136.17%.

Horizon Bancorp Company Profile

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.