Teacher Retirement System of Texas Sells 18,065 Shares of Horizon Bancorp (IN) (NASDAQ:HBNC)

Teacher Retirement System of Texas lessened its position in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 43.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,457 shares of the financial services provider's stock after selling 18,065 shares during the period. Teacher Retirement System of Texas owned approximately 0.05% of Horizon Bancorp (IN) worth $354,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HBNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 buying an additional 792 shares during the period. Quarry LP boosted its holdings in shares of 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 buying an additional 1,352 shares during the period. Occudo Quantitative Strategies LP boosted its holdings in shares of Horizon Bancorp (IN) by 9.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 20,525 shares of the financial services provider's stock worth $331,000 after buying an additional 1,759 shares during the period. Rhino Investment Partners Inc raised 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 acquiring an additional 2,104 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Horizon Bancorp (IN) by 18.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,723 shares of the financial services provider's stock worth $270,000 after acquiring an additional 2,638 shares during the period. Institutional investors and hedge funds own 64.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HBNC. Wall Street Zen raised Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a report on Friday. Piper Sandler dropped their price target on Horizon Bancorp (IN) from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on Horizon Bancorp (IN) from $18.00 to $17.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th.

Horizon Bancorp (IN) Trading Up 0.3%

HBNC stock traded up $0.04 during mid-day trading on Friday, reaching $15.92. The company's stock had a trading volume of 159,243 shares, compared to its average volume of 165,606. The company has a market cap of $700.72 million, a price-to-earnings ratio of 15.61 and a beta of 0.84. Horizon Bancorp has a 12 month low of $12.70 and a 12 month high of $19.18. The business's 50 day moving average price is $15.32 and its 200 day moving average price is $15.46. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

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

Horizon Bancorp (IN) Dividend Announcement

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

Horizon Bancorp (IN) 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.