Nuveen LLC Purchases Shares of 351,182 Horizon Bancorp (IN) $HBNC

Key Points

• Nuveen LLC has acquired 351,182 shares of Horizon Bancorp (IN), valued at approximately $5,296,000, representing a 0.80% ownership stake in the company.
• Horizon Bancorp recently reported an earnings per share (EPS) of $0.47 for the last quarter, surpassing analysts' expectations of $0.44.
• The company has announced a quarterly dividend of $0.16 per share, which translates to an annual yield of 4.1% based on a payout ratio of 54.70%.

Nuveen LLC purchased a new position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 351,182 shares of the financial services provider's stock, valued at approximately $5,296,000. Nuveen LLC owned 0.80% of Horizon Bancorp (IN) as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aquatic Capital Management LLC purchased a new position in shares of Horizon Bancorp (IN) during the fourth quarter worth $51,000. Quarry LP boosted its position in shares of Horizon Bancorp (IN) by 64.4% during the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider's stock worth $56,000 after buying an additional 1,352 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Horizon Bancorp (IN) during the fourth quarter worth $82,000. EP Wealth Advisors LLC purchased a new position in shares of Horizon Bancorp (IN) during the fourth quarter worth $162,000. Finally, CX Institutional purchased a new position in shares of Horizon Bancorp (IN) during the first quarter worth $153,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Bancorp (IN) Stock Down 0.1%

NASDAQ:HBNC traded down $0.02 during midday trading on Friday, reaching $16.86. The company had a trading volume of 363,033 shares, compared to its average volume of 488,439. Horizon Bancorp has a 12-month low of $12.70 and a 12-month 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 0.14. The firm has a market capitalization of $743.53 million, a price-to-earnings ratio of 14.41 and a beta of 0.86. The stock's fifty day simple moving average is $15.78 and its 200-day simple moving average is $15.33.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.03. Horizon Bancorp (IN) had a return on equity of 10.21% and a net margin of 13.84%.The company had revenue of $66.27 million for the quarter, compared to analysts' expectations of $66.45 million. On average, sell-side analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently declared 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 was Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 3.8%. Horizon Bancorp (IN)'s dividend payout ratio (DPR) is currently 54.70%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HBNC. Piper Sandler lifted their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods upgraded Horizon Bancorp (IN) from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $18.00 to $19.00 in a report on Tuesday, August 26th. Finally, Wall Street Zen lowered Horizon Bancorp (IN) from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.33.

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.