BlackRock Inc. purchased a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,201,718 shares of the financial services provider's stock, valued at approximately $143,890,000. BlackRock Inc. owned 14.03% of Horizon Bancorp (IN) at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Stieven Capital Advisors L.P. lifted its position in shares of Horizon Bancorp (IN) by 18.4% during the 4th quarter. Stieven Capital Advisors L.P. now owns 444,000 shares of the financial services provider's stock valued at $7,530,000 after buying an additional 69,000 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Horizon Bancorp (IN) by 274.5% in the first quarter. Hsbc Holdings PLC now owns 80,277 shares of the financial services provider's stock valued at $1,327,000 after purchasing an additional 58,840 shares during the period. Sei Investments Co. lifted its stake in shares of Horizon Bancorp (IN) by 175.2% during the 1st quarter. Sei Investments Co. now owns 90,926 shares of the financial services provider's stock valued at $1,507,000 after buying an additional 57,892 shares in the last quarter. PL Capital Advisors LLC lifted its stake in shares of Horizon Bancorp (IN) by 7.2% during the 4th quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider's stock valued at $30,746,000 after buying an additional 121,651 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Horizon Bancorp (IN) by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider's stock worth $54,093,000 after buying an additional 176,448 shares during the period. Institutional investors and hedge funds own 64.51% of the company's stock.
Horizon Bancorp (IN) Trading Up 0.2%
NASDAQ HBNC opened at $19.56 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.21. The stock's 50-day simple moving average is $20.07 and its two-hundred day simple moving average is $18.52. Horizon Bancorp has a twelve month low of $14.97 and a twelve month high of $21.04. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -6.19 and a beta of 0.82.
Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). The firm had revenue of $75.50 million for the quarter, compared to the consensus estimate of $76.56 million. Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.31%. Research analysts forecast that Horizon Bancorp will post 2.07 EPS for the current fiscal year.
Horizon Bancorp (IN) Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a $0.16 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.64 annualized dividend and a yield of 3.3%. Horizon Bancorp (IN)'s payout ratio is presently -20.25%.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on HBNC. Wall Street Zen raised Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a report on Sunday, August 16th. Weiss Ratings cut Horizon Bancorp (IN) from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 20th. Piper Sandler reaffirmed a "neutral" rating and set a $23.00 target price (up from $21.00) on shares of Horizon Bancorp (IN) in a report on Friday, July 24th. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Finally, Stephens reaffirmed an "overweight" rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $22.33.
View Our Latest Analysis on Horizon Bancorp (IN)
Insider Transactions at Horizon Bancorp (IN)
In other Horizon Bancorp (IN) news, EVP Kathie A. Deruiter sold 8,000 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $20.19, for a total value of $161,520.00. Following the completion of the transaction, the executive vice president directly owned 50,346 shares in the company, valued at approximately $1,016,485.74. This represents a 13.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.19% of the stock is currently owned by company insiders.
About Horizon Bancorp (IN)
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding HBNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Horizon Bancorp (IN), you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Horizon Bancorp (IN) wasn't on the list.
While Horizon Bancorp (IN) currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
