Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN cut its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 572,730 shares of the financial services provider’s stock after selling 43,726 shares during the period. Horizon Bancorp makes up approximately 4.4% of Horizon Bancorp Inc. IN’s investment portfolio, making the stock its 5th largest holding. Horizon Bancorp Inc. IN’s holdings in Horizon Bancorp were worth $9,227,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HBNC. Rhumbline Advisers lifted its holdings in Horizon Bancorp by 3.2% during the second quarter. Rhumbline Advisers now owns 68,944 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 2,120 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Horizon Bancorp by 5.8% in the second quarter. Federated Hermes Inc. now owns 58,670 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 3,209 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Horizon Bancorp by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after purchasing an additional 135,217 shares during the last quarter. Sei Investments Co. raised its stake in shares of Horizon Bancorp by 12.3% during the 2nd quarter. Sei Investments Co. now owns 28,486 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 3,109 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Horizon Bancorp in the 2nd quarter valued at approximately $432,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp Stock Performance

HBNC opened at $15.03 on Tuesday. The company’s fifty day moving average price is $17.26 and its two-hundred day moving average price is $15.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a 1-year low of $11.18 and a 1-year high of $19.18. The company has a market cap of $657.04 million, a price-to-earnings ratio of 31.98 and a beta of 1.08.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $102.40 million for 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 period in the prior year, the firm posted $0.37 EPS. On average, analysts expect that Horizon Bancorp, Inc. will post 1.4 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.26%. Horizon Bancorp’s dividend payout ratio is presently 136.17%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HBNC. Hovde Group initiated coverage on Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 price objective on the stock. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.