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

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

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in Horizon Bancorp (IN) by 362.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider's stock worth $25,000 after buying an additional 1,233 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Horizon Bancorp (IN) during the fourth quarter worth about $51,000. Quarry LP raised its holdings in shares of Horizon Bancorp (IN) by 64.4% in the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock worth $56,000 after acquiring an additional 1,352 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Horizon Bancorp (IN) in the 4th quarter valued at about $82,000. Finally, Quantbot Technologies LP lifted its position in Horizon Bancorp (IN) by 4,298.5% in the 4th quarter. Quantbot Technologies LP now owns 8,753 shares of the financial services provider's stock valued at $141,000 after acquiring an additional 8,554 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Stock Performance

Horizon Bancorp (IN) stock traded up $0.11 during mid-day trading on Friday, reaching $16.39. 90,167 shares of the company's stock were exchanged, compared to its average volume of 166,581. The business's fifty day simple moving average is $15.10 and its 200 day simple moving average is $15.50. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. Horizon Bancorp has a one year low of $11.87 and a one year high of $19.18. The firm has a market capitalization of $721.41 million, a PE ratio of 16.07 and a beta of 0.84.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.14. The company had revenue of $69.17 million for the quarter, compared to analysts' expectations of $64.52 million. Horizon Bancorp (IN) had a return on equity of 9.56% and a net margin of 12.27%. On average, sell-side analysts expect that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

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

Wall Street Analysts Forecast Growth

HBNC has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on Horizon Bancorp (IN) from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Piper Sandler reduced their target price on shares of Horizon Bancorp (IN) from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Wall Street Zen lowered shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research report on Friday, June 6th.

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.