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

Teacher Retirement System of Texas reduced its holdings in shares of Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) by 43.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 about 0.05% of Horizon Bancorp (IN) worth $354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CX Institutional bought a new position in Horizon Bancorp (IN) in the 1st quarter worth approximately $153,000. SG Americas Securities LLC grew its stake in shares of Horizon Bancorp (IN) by 12.6% during the first quarter. SG Americas Securities LLC now owns 30,473 shares of the financial services provider's stock valued at $460,000 after buying an additional 3,418 shares during the last quarter. Summit Global Investments bought a new position in shares of Horizon Bancorp (IN) during the first quarter valued at approximately $210,000. GAMMA Investing LLC grew its stake in shares of Horizon Bancorp (IN) by 2,288.2% during the first quarter. GAMMA Investing LLC now owns 15,834 shares of the financial services provider's stock valued at $2,390,000 after buying an additional 15,171 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Horizon Bancorp (IN) during the fourth quarter valued at approximately $1,348,000. Institutional investors own 64.51% of the company's stock.

Wall Street Analysts Forecast Growth

HBNC has been the subject of a number of recent analyst reports. Piper Sandler cut 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 report on Monday, April 28th. Wall Street Zen raised shares of Horizon Bancorp (IN) from a "hold" rating to a "buy" rating in a report on Friday. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Horizon Bancorp (IN) from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Friday, April 25th.

Horizon Bancorp (IN) Stock Performance

HBNC stock traded up $0.07 during midday trading on Tuesday, reaching $15.92. The company had a trading volume of 150,309 shares, compared to its average volume of 165,390. The stock has a 50 day moving average price of $15.32 and a 200 day moving average price of $15.46. Horizon Bancorp has a fifty-two week low of $12.70 and a fifty-two week high of $19.18. The firm has a market capitalization of $700.64 million, a PE ratio of 15.61 and a beta of 0.84. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating 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 company had revenue of $69.17 million for the quarter, compared to analysts' expectations of $64.52 million. Analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors 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 currently 62.75%.

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.