Pl Capital, Llc. Picked Up Horizon Bancorp (NASDAQ:HBNC) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Horizon Bancorp (NASDAQ:HBNC) reported that Pl Capital, Llc. has picked up 450,182 of common stock as of 2017-02-16.

The acquisition brings the aggregate amount owned by Pl Capital, Llc. to a total of 450,182 representing a 2.0% stake in the company.

For those not familiar with the company, Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc. The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking. Horizon Risk Management, Inc. is a captive insurance company. The Bank’s loan portfolio consists of commercial loans, real estate loans, mortgage warehouse loans and consumer loans. The Bank’s investment securities include both securities available for sale and held to maturity. Its deposits include noninterest-bearing demand deposits, interest-bearing demand deposits, savings deposits, money market deposits and time deposits. The Bank maintains approximately 54 full service offices.

A glance at Horizon Bancorp (NASDAQ:HBNC)’s key stats reveals a current market capitalization of  889.78 million based on 22.17 million shares outstanding and a price at last close of $26.40 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-01-31, Winkler picked up 8,000 at a purchase price of $25.55. This brings their total holding to 8,000 as of the date of the filing.

On the sell side, the most recent transaction saw Smith unload 735 shares at a sale price of $25.52. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Horizon Bancorp (NASDAQ:HBNC) as things move forward to see if its progress aligns with these transactions.

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