Connor Clark & Lunn Investment Management Ltd. increased its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 82.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,290 shares of the financial services provider's stock after purchasing an additional 30,933 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Horizon Bancorp (IN) worth $1,030,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of HBNC. Aquatic Capital Management LLC bought a new stake in Horizon Bancorp (IN) in the fourth quarter worth $51,000. Quarry LP boosted its holdings in Horizon Bancorp (IN) by 64.4% in the fourth 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. bought a new stake in Horizon Bancorp (IN) in the fourth quarter worth $82,000. CX Institutional bought a new stake in Horizon Bancorp (IN) in the first quarter worth $153,000. Finally, EP Wealth Advisors LLC bought a new stake in Horizon Bancorp (IN) in the fourth quarter worth $162,000. 64.51% of the stock is currently owned by institutional investors.
Horizon Bancorp (IN) Stock Performance
Shares of HBNC traded up $0.5550 during trading hours on Friday, reaching $15.6950. 455,919 shares of the company traded hands, compared to its average volume of 183,213. The stock's fifty day moving average is $15.56 and its 200 day moving average is $15.40. The stock has a market cap of $692.15 million, a P/E ratio of 13.41 and a beta of 0.87. 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.
Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.03. The business had revenue of $66.27 million during the quarter, compared to analyst estimates of $66.45 million. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.21%. Equities research 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 disclosed 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 dividend on an annualized basis and a dividend yield of 4.1%. Horizon Bancorp (IN)'s dividend payout ratio is currently 54.70%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods upped their price objective on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Finally, Wall Street Zen cut shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $18.00.
Get Our Latest Analysis on HBNC
Horizon Bancorp (IN) Company Profile
(
Free Report)
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.
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