AMI Investment Management Inc. Increases Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

AMI Investment Management Inc. increased its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,932 shares of the financial services provider’s stock after purchasing an additional 1,109 shares during the quarter. AMI Investment Management Inc.’s holdings in Horizon Bancorp were worth $192,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HBNC. Quarry LP boosted its stake in shares of Horizon Bancorp by 508.1% in the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,753 shares during the last quarter. CWM LLC lifted its holdings in Horizon Bancorp by 114.2% during the third quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 3,709 shares during the period. Pathway Financial Advisers LLC boosted its position in Horizon Bancorp by 44.1% in the second quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 2,740 shares during the last quarter. Centiva Capital LP bought a new position in Horizon Bancorp in the 3rd quarter valued at $163,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Horizon Bancorp during the 2nd quarter valued at $133,000. 64.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group initiated coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They set an “outperform” rating and a $18.00 price target for the company.

Horizon Bancorp Trading Up 1.3 %

Shares of HBNC opened at $15.83 on Monday. The firm has a market cap of $692.09 million, a P/E ratio of 33.68 and a beta of 1.08. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The business has a 50-day moving average of $17.11 and a 200 day moving average of $15.89.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. During the same quarter last year, the company earned $0.37 earnings per share. As a group, research analysts forecast that Horizon Bancorp, Inc. will post 1.4 EPS for the current year.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 4.04%. Horizon Bancorp’s dividend payout ratio is currently 136.17%.

About Horizon Bancorp

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.