Segall Bryant & Hamill LLC Buys 33,379 Shares of Horizon Bancorp (IN) (NASDAQ:HBNC)

Segall Bryant & Hamill LLC grew its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,752 shares of the financial services provider's stock after acquiring an additional 33,379 shares during the period. Segall Bryant & Hamill LLC owned 0.33% of Horizon Bancorp (IN) worth $2,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Horizon Bancorp (IN) by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,665 shares of the financial services provider's stock worth $397,000 after purchasing an additional 792 shares in the last quarter. Meritage Portfolio Management boosted its holdings in Horizon Bancorp (IN) by 5.5% in the first quarter. Meritage Portfolio Management now owns 23,491 shares of the financial services provider's stock worth $354,000 after purchasing an additional 1,231 shares in the last quarter. 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. Occudo Quantitative Strategies LP boosted its holdings 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 acquiring an additional 1,759 shares during the period. Finally, Rhino Investment Partners Inc boosted its holdings 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 acquiring an additional 2,104 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HBNC. Keefe, Bruyette & Woods decreased their price target on shares of 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. Wall Street Zen raised shares of Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Piper Sandler dropped 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.

Horizon Bancorp (IN) Price Performance

Shares of HBNC traded up $0.07 during mid-day trading on Tuesday, hitting $15.92. 150,309 shares of the company traded hands, compared to its average volume of 165,390. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.18. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $15.32 and a 200 day moving average of $15.46. The stock has a market capitalization of $700.64 million, a price-to-earnings ratio of 15.61 and a beta of 0.84.

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

Horizon Bancorp (IN) Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 4.02%. Horizon Bancorp (IN)'s payout ratio is presently 62.75%.

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.