American Century Companies Inc. Sells 104,459 Shares of Horizon Bancorp (IN) $HBNC

Key Points

• American Century Companies Inc. reduced its holdings in Horizon Bancorp (IN) by 18.4%, selling 104,459 shares and maintaining a total of 464,010 shares, valued at approximately $6.99 million.
• Recent analyst ratings have mixed sentiments: Wall Street Zen downgraded Horizon Bancorp from "buy" to "hold", while Keefe, Bruyette & Woods upgraded the stock to "outperform" with a target price increase from $18.00 to $19.00.
• Horizon Bancorp recently announced a quarterly dividend of $0.16 per share, with a dividend yield of 3.9% and a payout ratio of 54.70%.

American Century Companies Inc. cut its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 18.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,010 shares of the financial services provider's stock after selling 104,459 shares during the period. American Century Companies Inc. owned 1.05% of Horizon Bancorp (IN) worth $6,997,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in HBNC. Aquatic Capital Management LLC purchased a new position in Horizon Bancorp (IN) in the 4th quarter worth approximately $51,000. Quarry LP lifted its holdings in Horizon Bancorp (IN) by 64.4% in the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock worth $56,000 after purchasing an additional 1,352 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Horizon Bancorp (IN) in the 4th quarter worth approximately $82,000. CX Institutional purchased a new position in Horizon Bancorp (IN) in the 1st quarter worth approximately $153,000. Finally, EP Wealth Advisors LLC purchased a new position in Horizon Bancorp (IN) in the 4th quarter worth approximately $162,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen cut Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler lifted their price objective on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note 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 objective for the stock from $18.00 to $19.00 in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.33.

Horizon Bancorp (IN) Price Performance

NASDAQ:HBNC traded down $0.02 during trading hours on Monday, reaching $16.86. The stock had a trading volume of 363,033 shares, compared to its average volume of 488,439. 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 52 week low of $12.70 and a 52 week high of $19.18. The company has a 50 day moving average price of $15.78 and a two-hundred day moving average price of $15.33. The stock has a market capitalization of $743.53 million, a PE ratio of 14.41 and a beta of 0.86.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share (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 business had revenue of $66.27 million for the quarter, compared to the consensus estimate of $66.45 million. As a group, sell-side analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.64 annualized dividend and a dividend yield of 3.8%. Horizon Bancorp (IN)'s payout ratio is currently 54.70%.

About Horizon Bancorp (IN)

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.