36,600 Shares in Horizon Bancorp (IN) $HBNC Bought by Strs Ohio

Key Points

• Strs Ohio acquired 36,600 shares of Horizon Bancorp (IN) for approximately $552,000 in the first quarter, indicating increased institutional investment in the company.
• Horizon Bancorp (IN) reported earnings of $0.47 per share for the last quarter, surpassing analysts' expectations of $0.44.
• The company will pay a quarterly dividend of $0.16 per share on October 17th, representing a yield of 3.9% based on an annualized dividend of $0.64.

Strs Ohio purchased a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 36,600 shares of the financial services provider's stock, valued at approximately $552,000. Strs Ohio owned approximately 0.08% of Horizon Bancorp (IN) as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Horizon Bancorp (IN) by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 2,594,577 shares of the financial services provider's stock worth $39,126,000 after acquiring an additional 142,298 shares during the period. PL Capital Advisors LLC boosted its stake in shares of Horizon Bancorp (IN) by 0.5% during the 1st quarter. PL Capital Advisors LLC now owns 1,491,174 shares of the financial services provider's stock worth $22,487,000 after acquiring an additional 8,000 shares during the period. LSV Asset Management boosted its stake in shares of Horizon Bancorp (IN) by 15.9% during the 1st quarter. LSV Asset Management now owns 711,873 shares of the financial services provider's stock worth $10,735,000 after acquiring an additional 97,818 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Horizon Bancorp (IN) by 23.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 576,510 shares of the financial services provider's stock worth $8,694,000 after acquiring an additional 109,580 shares during the period. Finally, Rhino Investment Partners Inc boosted its stake in shares of Horizon Bancorp (IN) by 1.3% during the 1st quarter. Rhino Investment Partners Inc now owns 537,363 shares of the financial services provider's stock worth $8,103,000 after acquiring an additional 7,000 shares during the period. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp (IN) Price Performance

Shares of Horizon Bancorp (IN) stock traded down $0.06 during trading on Tuesday, reaching $16.22. 46,745 shares of the company's stock were exchanged, compared to its average volume of 216,712. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $19.18. The company has a market cap of $715.08 million, a P/E ratio of 13.88 and a beta of 0.86. The firm's 50-day moving average price is $16.02 and its 200 day moving average price is $15.31.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.03. Horizon Bancorp (IN) had a return on equity of 10.21% and a net margin of 13.84%.The company had revenue of $66.27 million during the quarter, compared to analysts' expectations of $66.45 million. As a group, research analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.9%. Horizon Bancorp (IN)'s payout ratio is 54.70%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HBNC. Wall Street Zen downgraded Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Stephens lifted their price target on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Piper Sandler lifted their price target on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods raised Horizon Bancorp (IN) from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $18.00 to $19.00 in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.25.

Horizon Bancorp (IN) Company 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.