Horizon Bancorp Inc. IN Sells 43,726 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Horizon Bancorp Inc. IN trimmed its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 572,730 shares of the financial services provider’s stock after selling 43,726 shares during the period. Horizon Bancorp accounts for 4.4% of Horizon Bancorp Inc. IN’s portfolio, making the stock its 5th biggest position. Horizon Bancorp Inc. IN owned approximately 1.31% of Horizon Bancorp worth $9,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP raised 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 buying an additional 135,217 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of Horizon Bancorp by 46.0% in the 3rd quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock worth $2,824,000 after purchasing an additional 57,240 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Horizon Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock worth $16,387,000 after purchasing an additional 52,423 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Horizon Bancorp by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock worth $5,915,000 after purchasing an additional 50,666 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Horizon Bancorp by 62.7% in the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 42,218 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp Stock Performance

NASDAQ:HBNC opened at $15.03 on Tuesday. Horizon Bancorp, Inc. has a 1 year low of $11.18 and a 1 year high of $19.18. The firm’s fifty day simple moving average is $17.26 and its 200 day simple moving average 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. The firm has a market capitalization of $657.04 million, a PE ratio of 31.98 and a beta of 1.08.

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

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a $0.16 dividend. 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 currently 136.17%.

Analyst Upgrades and Downgrades

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

Horizon Bancorp Profile

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.