Horizon Bancorp (IN) (HBNC) Holdings Boosted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. boosted its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 24.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,250 shares of the financial services provider’s stock after buying an additional 7,400 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.17% of Horizon Bancorp (IN) worth $982,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sei Investments Co. purchased a new stake in shares of Horizon Bancorp (IN) during the 2nd quarter valued at about $356,000. Thomson Horstmann & Bryant Inc. increased its position in shares of Horizon Bancorp (IN) by 9.6% during the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 41,602 shares of the financial services provider’s stock valued at $1,096,000 after purchasing an additional 3,640 shares during the last quarter. Sabal Trust CO increased its position in shares of Horizon Bancorp (IN) by 0.4% during the 2nd quarter. Sabal Trust CO now owns 16,540 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 69 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Horizon Bancorp (IN) by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 519 shares during the last quarter. Finally, Credit Suisse AG increased its position in shares of Horizon Bancorp (IN) by 5.0% during the 1st quarter. Credit Suisse AG now owns 12,139 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 573 shares during the last quarter. 40.74% of the stock is owned by institutional investors and hedge funds.

Shares of Horizon Bancorp (HBNC) opened at 27.26 on Tuesday. The stock has a market cap of $604.52 million, a price-to-earnings ratio of 20.51 and a beta of 0.99. Horizon Bancorp has a 52-week low of $18.33 and a 52-week high of $29.25. The stock’s 50 day moving average is $28.04 and its 200 day moving average is $26.63.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.04). Horizon Bancorp (IN) had a return on equity of 9.88% and a net margin of 20.03%. The firm had revenue of $35.90 million for the quarter, compared to analyst estimates of $37.81 million. On average, equities analysts predict that Horizon Bancorp will post $1.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, October 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, October 5th. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is 37.41%.

In related news, insider Thomas H. Edwards sold 3,000 shares of Horizon Bancorp (IN) stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the insider now owns 1,689 shares of the company’s stock, valued at $43,914. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James D. Neff sold 11,012 shares of Horizon Bancorp (IN) stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $26.05, for a total value of $286,862.60. Following the sale, the insider now directly owns 147,176 shares of the company’s stock, valued at approximately $3,833,934.80. The disclosure for this sale can be found here. Insiders have sold 27,254 shares of company stock valued at $713,536 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

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Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Horizon Bancorp (IN) from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Piper Jaffray Companies set a $32.00 price target on shares of Horizon Bancorp (IN) and gave the company a “buy” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.75.

Horizon Bancorp (IN) Profile

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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