Harbour Trust & Investment Management Co Reduces Stock Holdings in Horizon Bancorp (IN) (NASDAQ:HBNC)

Harbour Trust & Investment Management Co reduced its holdings in shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 7.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 314,435 shares of the financial services provider's stock after selling 24,685 shares during the period. Harbour Trust & Investment Management Co owned about 0.71% of Horizon Bancorp (IN) worth $4,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HBNC. Rhumbline Advisers lifted its stake in shares of Horizon Bancorp (IN) by 3.7% during the 4th quarter. Rhumbline Advisers now owns 69,900 shares of the financial services provider's stock worth $1,126,000 after acquiring an additional 2,521 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter worth approximately $234,000. Jones Financial Companies Lllp lifted its stake in shares of Horizon Bancorp (IN) by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider's stock worth $25,000 after acquiring an additional 1,233 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Horizon Bancorp (IN) by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 359,247 shares of the financial services provider's stock worth $5,787,000 after acquiring an additional 8,266 shares during the last quarter. Finally, AMG National Trust Bank bought a new stake in shares of Horizon Bancorp (IN) during the 4th quarter worth approximately $161,000. 64.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Keefe, Bruyette & Woods decreased their target price on Horizon Bancorp (IN) from $18.00 to $17.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Finally, Piper Sandler decreased their target price on Horizon Bancorp (IN) from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, April 28th.

Horizon Bancorp (IN) Stock Up 0.7%

NASDAQ HBNC traded up $0.11 on Friday, reaching $16.39. 90,167 shares of the stock traded hands, compared to its average volume of 166,749. Horizon Bancorp has a 12 month low of $11.97 and a 12 month high of $19.18. The company has a fifty day moving average price of $15.14 and a 200-day moving average price of $15.49. The company has a market cap of $721.32 million, a price-to-earnings ratio of 16.07 and a beta of 0.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.14. Horizon Bancorp (IN) had a return on equity of 9.56% and a net margin of 12.27%. The business had revenue of $69.17 million for the quarter, compared to the consensus estimate of $64.52 million. As a group, research analysts forecast that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a $0.16 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.90%. Horizon Bancorp (IN)'s dividend payout ratio is presently 62.75%.

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.