EJF Capital LLC Purchases 24,826 Shares of Horizon Bancorp (IN) $HBNC

Key Points

• EJF Capital LLC increased its holdings in Horizon Bancorp (IN) by 27.2%, acquiring an additional 24,826 shares, bringing their total ownership to 116,064 shares valued at approximately $1.75 million.
• The recent earnings report indicated that Horizon Bancorp reported an earnings per share (EPS) of $0.47, surpassing analysts' expectations of $0.44.
• Horizon Bancorp declared a quarterly dividend of $0.16 per share, with a current annualized yield of 3.8% and a payout ratio of 54.70%.

EJF Capital LLC grew its position in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 27.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 116,064 shares of the financial services provider's stock after buying an additional 24,826 shares during the period. EJF Capital LLC owned approximately 0.26% of Horizon Bancorp (IN) worth $1,750,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods upgraded shares of Horizon Bancorp (IN) from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $18.00 to $19.00 in a research report on Tuesday, August 26th. Stephens increased their price objective on shares of Horizon Bancorp (IN) from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Piper Sandler increased their price objective on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Three 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, the company presently has an average rating of "Moderate Buy" and an average price target of $19.25.

Horizon Bancorp (IN) Stock Performance

NASDAQ HBNC traded down $0.02 during trading hours on Monday, hitting $16.63. 175,129 shares of the company's stock traded hands, compared to its average volume of 212,454. The business's fifty day moving average price is $15.93 and its two-hundred day moving average price is $15.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $733.35 million, a P/E ratio of 14.21 and a beta of 0.86. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $19.18.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. The company 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 predict that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 3rd. Horizon Bancorp (IN)'s dividend payout ratio is presently 54.70%.

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.