TIAA CREF Investment Management LLC Sells 5,621 Shares of Horizon Bancorp (IN) (HBNC)

TIAA CREF Investment Management LLC cut its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 8.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 62,817 shares of the financial services provider’s stock after selling 5,621 shares during the period. TIAA CREF Investment Management LLC’s holdings in Horizon Bancorp (IN) were worth $1,647,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HBNC. Catalyst Capital Advisors LLC purchased a new position in Horizon Bancorp (IN) during the first quarter valued at approximately $454,000. Trexquant Investment LP purchased a new position in Horizon Bancorp (IN) during the first quarter valued at approximately $255,000. Virginia Retirement Systems ET AL purchased a new position in Horizon Bancorp (IN) during the first quarter valued at approximately $233,000. Bank of New York Mellon Corp boosted its position in Horizon Bancorp (IN) by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 130,669 shares of the financial services provider’s stock valued at $3,427,000 after buying an additional 11,700 shares during the period. Finally, American Century Companies Inc. purchased a new position in Horizon Bancorp (IN) during the first quarter valued at approximately $288,000. 44.09% of the stock is owned by hedge funds and other institutional investors.

Shares of Horizon Bancorp (NASDAQ:HBNC) traded down 0.08% during trading on Friday, hitting $25.84. The stock had a trading volume of 4,027 shares. The stock has a market capitalization of $573.03 million, a P/E ratio of 19.44 and a beta of 0.98. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $26.09. Horizon Bancorp has a 12-month low of $17.70 and a 12-month high of $28.63.

The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were paid a $0.13 dividend. This is a boost from Horizon Bancorp (IN)’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, July 5th. Horizon Bancorp (IN)’s payout ratio is 39.10%.

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Several research firms have commented on HBNC. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $29.00 price target on shares of Horizon Bancorp (IN) in a report on Wednesday, April 26th. Zacks Investment Research cut Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Piper Jaffray Companies set a $32.00 target price on Horizon Bancorp (IN) and gave the stock a “buy” rating in a report on Saturday, July 29th. Finally, ValuEngine raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.50.

In related news, insider James D. Neff sold 4,799 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $26.75, for a total value of $128,373.25. Following the completion of the sale, the insider now directly owns 147,176 shares in the company, valued at $3,936,958. The sale was disclosed in a filing with the SEC, which is available at this link. 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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