Hsbc Holdings PLC Has $361,000 Stake in Horizon Bancorp (IN) $HBNC

Hsbc Holdings PLC trimmed its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 60.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,437 shares of the financial services provider’s stock after selling 32,540 shares during the period. Hsbc Holdings PLC’s holdings in Horizon Bancorp (IN) were worth $361,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Horizon Bancorp (IN) by 65.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 660 shares during the period. Tower Research Capital LLC TRC lifted its position in Horizon Bancorp (IN) by 160.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 4,024 shares during the period. Rossby Financial LCC bought a new position in Horizon Bancorp (IN) in the fourth quarter worth $124,000. Raymond James Financial Inc. bought a new position in Horizon Bancorp (IN) in the second quarter worth $134,000. Finally, Quadrant Capital Group LLC acquired a new stake in Horizon Bancorp (IN) during the third quarter worth $140,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stephens reissued an “overweight” rating and issued a $21.00 price target on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th. Zacks Research raised shares of Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings raised shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Horizon Bancorp (IN) has an average rating of “Hold” and an average price target of $21.00.

Horizon Bancorp (IN) Stock Down 1.3%

HBNC opened at $20.30 on Friday. Horizon Bancorp has a twelve month low of $14.84 and a twelve month high of $20.66. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.38 and a beta of 0.82. The firm’s 50-day simple moving average is $19.12 and its 200-day simple moving average is $17.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.91.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%.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 2.09 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a dividend of $0.16 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.13%.

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.