Prudential Financial Inc. Has $996,000 Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Prudential Financial Inc. boosted its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 44.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 57,170 shares of the financial services provider’s stock after acquiring an additional 17,550 shares during the quarter. Prudential Financial Inc.’s holdings in Horizon Bancorp were worth $996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its position in Horizon Bancorp by 102.2% in the 1st quarter. Royal Bank of Canada now owns 3,241 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,638 shares during the period. Stifel Financial Corp grew its position in Horizon Bancorp by 1.5% in the 2nd quarter. Stifel Financial Corp now owns 113,795 shares of the financial services provider’s stock valued at $1,983,000 after purchasing an additional 1,638 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in Horizon Bancorp in the 2nd quarter valued at $765,000. Bridgeway Capital Management LLC grew its position in Horizon Bancorp by 30.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 300,009 shares of the financial services provider’s stock valued at $5,229,000 after purchasing an additional 70,200 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in Horizon Bancorp in the 2nd quarter valued at $185,000. 53.32% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Kathie A. Deruiter sold 4,818 shares of Horizon Bancorp stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $20.22, for a total transaction of $97,419.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.47% of the company’s stock.

HBNC has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Horizon Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, August 3rd. Raymond James raised shares of Horizon Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $21.00 to $24.00 in a report on Friday, October 29th.

HBNC opened at $20.74 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.11. The stock has a market cap of $902.63 million, a P/E ratio of 10.47 and a beta of 1.25. The business’s fifty day moving average price is $18.61. Horizon Bancorp, Inc. has a 1 year low of $14.25 and a 1 year high of $21.13.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Tuesday, October 26th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08. The firm had revenue of $62.59 million for the quarter, compared to the consensus estimate of $59.43 million. Horizon Bancorp had a net margin of 33.17% and a return on equity of 12.65%. During the same period in the previous year, the firm earned $0.45 EPS. As a group, sell-side analysts forecast that Horizon Bancorp, Inc. will post 2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 22nd. Stockholders of record on Friday, October 8th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.89%. This is a boost from Horizon Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, October 7th. Horizon Bancorp’s payout ratio is presently 30.30%.

About Horizon Bancorp

Horizon Bancorp, Inc (Indiana) is a bank holding company, which engages in the provision of commercial and retail banking services. It offers personal banking, business banking, investment and trust, and mortgage services. The company was founded in 1873 and is headquartered in Michigan City, IN.

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Institutional Ownership by Quarter for Horizon Bancorp (NASDAQ:HBNC)

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