Hsbc Holdings PLC Takes Position in Horizon Bancorp (IN) $HBNC

Hsbc Holdings PLC purchased a new position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,847 shares of the financial services provider’s stock, valued at approximately $1,095,000.

A number of other large investors have also modified their holdings of the company. Bayview Asset Management LLC lifted its position in Horizon Bancorp (IN) by 0.7% in the 4th quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock valued at $1,619,000 after purchasing an additional 645 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Horizon Bancorp (IN) by 65.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares during the last quarter. Rafferty Asset Management LLC grew its position in Horizon Bancorp (IN) by 3.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 941 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Horizon Bancorp (IN) by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 1,057 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in shares of Horizon Bancorp (IN) by 9.6% in the fourth quarter. Sanctuary Advisors LLC now owns 14,845 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 1,298 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Insiders Place Their Bets

In other Horizon Bancorp (IN) news, EVP Kathie A. Deruiter sold 8,000 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $20.19, for a total transaction of $161,520.00. Following the completion of the transaction, the executive vice president directly owned 50,346 shares of the company’s stock, valued at approximately $1,016,485.74. This trade represents a 13.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.19% of the stock is owned by company insiders.

Horizon Bancorp (IN) Stock Down 0.7%

HBNC stock opened at $19.42 on Tuesday. The firm’s 50-day moving average is $20.07 and its two-hundred day moving average is $18.52. The company has a market capitalization of $997.22 million, a price-to-earnings ratio of -6.15 and a beta of 0.82. Horizon Bancorp has a 52 week low of $14.97 and a 52 week high of $21.04. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $75.50 million during the quarter, compared to the consensus estimate of $76.56 million. On average, analysts forecast that Horizon Bancorp will post 2.07 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Sunday, August 16th. Stephens reissued an “overweight” rating and issued a $21.00 price objective on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings downgraded Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Finally, Piper Sandler reiterated a “neutral” rating and set a $23.00 price target (up from $21.00) on shares of Horizon Bancorp (IN) in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Horizon Bancorp (IN) presently has an average rating of “Hold” and an average target price of $22.33.

Horizon Bancorp (IN) 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.