LSV Asset Management Grows Stock Holdings in Horizon Bancorp (IN) (NASDAQ:HBNC)

Key Points

• LSV Asset Management increased its stake in Horizon Bancorp (IN) by 15.9%, owning approximately 1.62% of the company, valued at $10.73 million after purchasing additional shares.
• Horizon Bancorp recently reported earnings of $0.47 per share, which exceeded estimates, while also declaring a $0.16 quarterly dividend yielding 4.2% annually.
• Analyst ratings for Horizon Bancorp have been mixed, with Piper Sandler and Keefe, Bruyette & Woods upgrading their price targets to $18.00 while Wall Street Zen downgraded their rating to "hold."

LSV Asset Management boosted its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 15.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 711,873 shares of the financial services provider's stock after purchasing an additional 97,818 shares during the period. LSV Asset Management owned approximately 1.62% of Horizon Bancorp (IN) worth $10,735,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Horizon Bancorp (IN) by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,464,189 shares of the financial services provider's stock valued at $39,698,000 after buying an additional 81,943 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Horizon Bancorp (IN) by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider's stock worth $39,506,000 after buying an additional 91,476 shares during the last quarter. Rhino Investment Partners Inc increased its stake in Horizon Bancorp (IN) by 0.4% during the 4th quarter. Rhino Investment Partners Inc now owns 530,363 shares of the financial services provider's stock worth $8,544,000 after buying an additional 2,104 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Horizon Bancorp (IN) by 2.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 229,747 shares of the financial services provider's stock valued at $3,701,000 after acquiring an additional 5,686 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Horizon Bancorp (IN) by 99.4% in the fourth quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider's stock valued at $3,424,000 after acquiring an additional 105,959 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. Piper Sandler increased their target price 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. Finally, Wall Street Zen lowered shares of Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

Horizon Bancorp (IN) Trading Up 1.5%

NASDAQ HBNC traded up $0.23 on Friday, reaching $15.26. 51,372 shares of the company were exchanged, compared to its average volume of 171,175. 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's fifty day moving average price is $15.39 and its 200 day moving average price is $15.46. The stock has a market capitalization of $671.67 million, a P/E ratio of 13.04 and a beta of 0.87. Horizon Bancorp has a fifty-two week low of $12.70 and a fifty-two week high of $19.18.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.03. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.30%. The firm had revenue of $66.27 million for the quarter, compared to analysts' expectations of $66.45 million. Analysts forecast that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a $0.16 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 4.2%. Horizon Bancorp (IN)'s dividend payout ratio is currently 54.70%.

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.