Horizon Bancorp (IN) (NASDAQ:HBNC) Position Lessened by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN decreased its position in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 35.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,045 shares of the financial services provider's stock after selling 200,685 shares during the quarter. Horizon Bancorp (IN) makes up approximately 3.2% of Horizon Bancorp Inc. IN's portfolio, making the stock its 10th largest position. Horizon Bancorp Inc. IN owned about 0.85% of Horizon Bancorp (IN) worth $5,610,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Horizon Bancorp (IN) by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,665 shares of the financial services provider's stock valued at $397,000 after buying an additional 792 shares during the period. Jones Financial Companies Lllp grew its position 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 valued at $25,000 after buying an additional 1,233 shares during the period. Quarry LP grew its position in Horizon Bancorp (IN) by 64.4% during the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,352 shares during the period. Occudo Quantitative Strategies LP grew its position in Horizon Bancorp (IN) by 9.4% during the fourth quarter. Occudo Quantitative Strategies LP now owns 20,525 shares of the financial services provider's stock valued at $331,000 after buying an additional 1,759 shares during the period. Finally, Rhino Investment Partners Inc grew its position in Horizon Bancorp (IN) by 0.4% during the fourth quarter. Rhino Investment Partners Inc now owns 530,363 shares of the financial services provider's stock valued at $8,544,000 after buying an additional 2,104 shares during the period. Institutional investors own 64.51% of the company's stock.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC traded up $0.06 on Friday, reaching $15.49. 349,869 shares of the company's stock were exchanged, compared to its average volume of 166,107. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $681.71 million, a price-to-earnings ratio of 15.19 and a beta of 0.85. Horizon Bancorp has a 52 week low of $11.87 and a 52 week high of $19.18. The stock has a fifty day simple moving average of $14.95 and a 200-day simple moving average of $15.53.

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

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 4.13%. Horizon Bancorp (IN)'s dividend payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HBNC. 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. Piper Sandler reduced their price target on shares of 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. Finally, Keefe, Bruyette & Woods cut their target price on shares of 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.

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.