Ameriprise Financial Inc. Trims Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Ameriprise Financial Inc. lowered its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 41.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,245 shares of the financial services provider's stock after selling 38,541 shares during the period. Ameriprise Financial Inc. owned about 0.13% of Horizon Bancorp worth $890,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. PL Capital Advisors LLC lifted its stake in Horizon Bancorp by 1,521.9% during the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider's stock worth $384,931,000 after purchasing an additional 22,420,759 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Horizon Bancorp by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,464,189 shares of the financial services provider's stock worth $39,698,000 after purchasing an additional 81,943 shares during the last quarter. Vanguard Group Inc. lifted its stake in Horizon Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider's stock worth $39,506,000 after purchasing an additional 91,476 shares during the last quarter. LSV Asset Management lifted its stake in Horizon Bancorp by 11.7% during the fourth quarter. LSV Asset Management now owns 614,055 shares of the financial services provider's stock worth $9,892,000 after purchasing an additional 64,532 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Horizon Bancorp by 0.9% in the 4th quarter. American Century Companies Inc. now owns 568,469 shares of the financial services provider's stock valued at $9,158,000 after acquiring an additional 5,129 shares during the last quarter. Institutional investors own 64.51% of the company's stock.

Wall Street Analyst Weigh In

HBNC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on Horizon Bancorp from $18.00 to $17.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Piper Sandler lowered their target price on Horizon Bancorp from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, April 28th.

Horizon Bancorp Trading Up 2.3%

Shares of NASDAQ HBNC traded up $0.33 during midday trading on Friday, reaching $14.83. The company had a trading volume of 165,512 shares, compared to its average volume of 168,980. Horizon Bancorp, Inc. has a one year low of $11.46 and a one year high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm's fifty day moving average price is $14.53 and its 200-day moving average price is $15.91. The stock has a market cap of $652.74 million, a PE ratio of 18.54 and a beta of 0.85.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The company had revenue of $69.17 million during the quarter, compared to analyst estimates of $64.52 million. On average, equities research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.32%. Horizon Bancorp's dividend payout ratio is presently 62.75%.

Horizon Bancorp 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.