Schwab Charles Investment Management Inc. boosted its stake in Horizon Bancorp (NASDAQ:HBNC) by 135.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 87,582 shares of the financial services provider’s stock after acquiring an additional 50,332 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Horizon Bancorp were worth $2,555,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HBNC. Legal & General Group Plc lifted its stake in Horizon Bancorp by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,331 shares of the financial services provider’s stock valued at $140,000 after buying an additional 662 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Horizon Bancorp in the 2nd quarter valued at approximately $205,000. Goldman Sachs Group Inc. lifted its stake in Horizon Bancorp by 20.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 9,914 shares of the financial services provider’s stock valued at $261,000 after buying an additional 1,700 shares in the last quarter. American Century Companies Inc. lifted its stake in Horizon Bancorp by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 11,664 shares of the financial services provider’s stock valued at $307,000 after buying an additional 678 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Horizon Bancorp by 70.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,938 shares of the financial services provider’s stock valued at $367,000 after buying an additional 5,768 shares in the last quarter. 44.74% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on HBNC shares. Zacks Investment Research raised Horizon Bancorp from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a research note on Wednesday, October 4th. Piper Jaffray Companies set a $32.00 price target on Horizon Bancorp and gave the stock a “buy” rating in a research note on Friday, October 6th. BidaskClub lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Finally, Sandler O’Neill reissued a “hold” rating and set a $29.50 price target on shares of Horizon Bancorp in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $30.13.

Horizon Bancorp (HBNC) opened at $28.48 on Thursday. Horizon Bancorp has a 52 week low of $24.20 and a 52 week high of $29.25. The firm has a market capitalization of $717.59, a price-to-earnings ratio of 20.49 and a beta of 0.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.26.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Horizon Bancorp had a return on equity of 9.58% and a net margin of 20.03%. The business had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $37.81 million. sell-side analysts expect that Horizon Bancorp will post 1.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, January 4th. Horizon Bancorp’s dividend payout ratio is presently 37.41%.

In other news, CEO Craig M. Dwight sold 19,440 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $27.19, for a total transaction of $528,573.60. Following the completion of the sale, the chief executive officer now directly owns 154,223 shares in the company, valued at approximately $4,193,323.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Craig M. Dwight sold 15,365 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $27.42, for a total value of $421,308.30. Following the sale, the chief executive officer now owns 150,625 shares of the company’s stock, valued at $4,130,137.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,046 shares of company stock worth $2,072,323. Corporate insiders own 5.40% of the company’s stock.

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

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