Horizon Bancorp (IN) $HBNC Shares Sold by LSV Asset Management

LSV Asset Management lessened its position in Horizon Bancorp (IN) (NASDAQ:HBNC) by 40.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 401,259 shares of the financial services provider’s stock after selling 269,294 shares during the period. LSV Asset Management owned approximately 0.78% of Horizon Bancorp (IN) worth $6,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Horizon Bancorp (IN) by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock worth $54,093,000 after acquiring an additional 176,448 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Horizon Bancorp (IN) by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock worth $41,116,000 after acquiring an additional 75,462 shares during the period. PL Capital Advisors LLC lifted its stake in shares of Horizon Bancorp (IN) by 13.4% in the 3rd quarter. PL Capital Advisors LLC now owns 1,691,174 shares of the financial services provider’s stock worth $27,076,000 after acquiring an additional 200,000 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Horizon Bancorp (IN) in the 3rd quarter worth $24,842,000. Finally, Jennison Associates LLC lifted its stake in shares of Horizon Bancorp (IN) by 69.6% in the 4th quarter. Jennison Associates LLC now owns 1,242,365 shares of the financial services provider’s stock worth $21,071,000 after acquiring an additional 509,775 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Up 2.2%

Shares of NASDAQ HBNC opened at $18.75 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Horizon Bancorp has a 52 week low of $14.34 and a 52 week high of $19.07. The firm has a 50-day moving average price of $17.43 and a 200 day moving average price of $17.32. The stock has a market capitalization of $962.44 million, a price-to-earnings ratio of -5.90 and a beta of 0.83.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. The firm had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $76.11 million. Equities research analysts anticipate that Horizon Bancorp will post 2.1 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, April 3rd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -20.13%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday. Stephens assumed coverage on shares of Horizon Bancorp (IN) in a research note on Friday, March 27th. They issued an “overweight” rating and a $20.00 price objective for the company. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 24th. Finally, Zacks Research upgraded shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.67.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.