Jacobs Asset Management LLC Has $9.56 Million Holdings in Horizon Bancorp (HBNC)
Jacobs Asset Management LLC raised its stake in Horizon Bancorp (NASDAQ:HBNC) by 20.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 327,846 shares of the financial services provider’s stock after buying an additional 55,429 shares during the period. Horizon Bancorp comprises about 1.8% of Jacobs Asset Management LLC’s portfolio, making the stock its 25th biggest position. Jacobs Asset Management LLC owned 1.29% of Horizon Bancorp worth $9,563,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HBNC. Legal & General Group Plc boosted its position in shares of Horizon Bancorp by 14.2% during the 2nd quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 662 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Horizon Bancorp during the 2nd quarter worth approximately $205,000. Goldman Sachs Group Inc. raised its stake in Horizon Bancorp by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,214 shares of the financial services provider’s stock worth $215,000 after buying an additional 519 shares during the period. Virginia Retirement Systems ET AL raised its stake in Horizon Bancorp by 29.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 11,500 shares of the financial services provider’s stock worth $303,000 after buying an additional 2,600 shares during the period. Finally, American Century Companies Inc. raised its stake in Horizon Bancorp by 6.2% during the 2nd quarter. American Century Companies Inc. now owns 11,664 shares of the financial services provider’s stock worth $307,000 after buying an additional 678 shares during the period. Hedge funds and other institutional investors own 44.67% of the company’s stock.
In other Horizon Bancorp news, CEO Craig M. Dwight sold 15,365 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $27.42, for a total transaction of $421,308.30. Following the completion of the transaction, the chief executive officer now directly owns 150,625 shares of the company’s stock, valued at $4,130,137.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Craig M. Dwight sold 3,200 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $27.06, for a total value of $86,592.00. Following the transaction, the chief executive officer now directly owns 150,625 shares of the company’s stock, valued at $4,075,912.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,046 shares of company stock valued at $1,877,423. 5.40% of the stock is owned by corporate insiders.
Shares of Horizon Bancorp (NASDAQ HBNC) opened at $27.62 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $703.32, a P/E ratio of 17.81 and a beta of 0.98. Horizon Bancorp has a 52-week low of $24.20 and a 52-week high of $29.25.
Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly 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). The business had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $37.81 million. Horizon Bancorp had a net margin of 20.03% and a return on equity of 9.58%. research analysts anticipate that Horizon Bancorp will post 1.64 EPS for the current fiscal year.
A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. Piper Jaffray Companies set a $32.00 price objective on Horizon Bancorp and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, BidaskClub raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.67.
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Horizon Bancorp 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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