Delta Asset Management LLC TN Purchases Shares of 4,100 Horizon Bancorp, Inc. (NASDAQ:HBNC)

Delta Asset Management LLC TN acquired a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC) in the 2nd quarter, Holdings Channel reports. The firm acquired 4,100 shares of the financial services provider’s stock, valued at approximately $43,000.

Other hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in Horizon Bancorp in the 1st quarter worth approximately $31,000. Captrust Financial Advisors grew its holdings in Horizon Bancorp by 53.9% during the 1st quarter. Captrust Financial Advisors now owns 3,399 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,191 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Horizon Bancorp by 31.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,271 shares of the financial services provider’s stock worth $83,000 after buying an additional 1,022 shares during the period. Signaturefd LLC lifted its holdings in Horizon Bancorp by 158.2% in the 1st quarter. Signaturefd LLC now owns 5,177 shares of the financial services provider’s stock worth $57,000 after buying an additional 3,172 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Horizon Bancorp by 419.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,677 shares of the financial services provider’s stock valued at $102,000 after buying an additional 4,584 shares during the last quarter. Hedge funds and other institutional investors own 57.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on HBNC shares. StockNews.com assumed coverage on Horizon Bancorp in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Piper Sandler cut their target price on Horizon Bancorp from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th.

Horizon Bancorp Stock Up 0.2 %

NASDAQ:HBNC opened at $11.24 on Tuesday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $495.80 million, a price-to-earnings ratio of 6.61 and a beta of 0.95. Horizon Bancorp, Inc. has a one year low of $7.69 and a one year high of $16.43. The stock has a 50-day simple moving average of $10.35 and a 200 day simple moving average of $10.52.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $53.92 million for the quarter, compared to analyst estimates of $55.07 million. Horizon Bancorp had a return on equity of 10.58% and a net margin of 21.93%. Sell-side analysts predict that Horizon Bancorp, Inc. will post 1.51 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend was Thursday, October 5th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 37.65%.

Horizon Bancorp Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers saving, money market, and time deposits, as well as non-interest and interest bearing demand deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans.