Oxford Financial Group LTD. LLC Makes New $1.66 Million Investment in Horizon Bancorp (IN) $HBNC

Oxford Financial Group LTD. LLC acquired a new stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 82,814 shares of the financial services provider’s stock, valued at approximately $1,655,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Horizon Bancorp (IN) by 65.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after buying an additional 660 shares in the last quarter. Royal Bank of Canada grew its stake in Horizon Bancorp (IN) by 93.5% during the first quarter. Royal Bank of Canada now owns 2,873 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 1,388 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Horizon Bancorp (IN) by 160.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 4,024 shares in the last quarter. Rossby Financial LCC bought a new stake in Horizon Bancorp (IN) in the 4th quarter valued at $124,000. Finally, Raymond James Financial Inc. bought a new stake in Horizon Bancorp (IN) in the 2nd quarter valued at $134,000. Institutional investors own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Wall Street Zen upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Weiss Ratings raised Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Piper Sandler reiterated a “neutral” rating and issued a $23.00 target price (up from $21.00) on shares of Horizon Bancorp (IN) in a research report on Friday, July 24th. Finally, Stephens reissued an “overweight” rating and set a $21.00 price target on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.33.

Insider Buying and Selling

In related news, EVP Kathie A. Deruiter sold 8,000 shares of Horizon Bancorp (IN) stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $20.19, for a total value of $161,520.00. Following the completion of the transaction, the executive vice president owned 50,346 shares in the company, valued at approximately $1,016,485.74. This trade represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.19% of the company’s stock.

Horizon Bancorp (IN) Trading Down 0.3%

HBNC stock opened at $19.59 on Friday. The firm has a fifty day moving average price of $20.05 and a 200 day moving average price of $18.46. Horizon Bancorp has a fifty-two week low of $14.84 and a fifty-two week high of $21.04. The firm has a market cap of $1.01 billion, a PE ratio of -6.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 0.92.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.31%. The business had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $76.56 million. Sell-side analysts anticipate that Horizon Bancorp will post 2.07 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -20.25%.

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.