Victory Capital Management Inc. Invests $995,000 in Horizon Bancorp (IN) (NASDAQ:HBNC)

Victory Capital Management Inc. purchased a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,000 shares of the financial services provider's stock, valued at approximately $995,000. Victory Capital Management Inc. owned 0.15% of Horizon Bancorp (IN) as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aquatic Capital Management LLC bought a new position in Horizon Bancorp (IN) during the fourth quarter worth $51,000. Quarry LP lifted 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 valued at $56,000 after purchasing an additional 1,352 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Horizon Bancorp (IN) in the fourth quarter worth about $82,000. KLP Kapitalforvaltning AS bought a new stake in Horizon Bancorp (IN) in the fourth quarter worth about $143,000. Finally, EP Wealth Advisors LLC bought a new stake in Horizon Bancorp (IN) in the fourth quarter worth about $162,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC stock traded down $0.48 during trading hours on Friday, reaching $15.01. The company had a trading volume of 266,966 shares, compared to its average volume of 201,446. The business has a fifty day moving average price of $15.35 and a 200-day moving average price of $15.48. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.18. The firm has a market cap of $660.67 million, a PE ratio of 12.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.03. The company had revenue of $66.27 million for the quarter, compared to the consensus estimate of $66.45 million. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.30%. Sell-side analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.64 annualized dividend and a yield of 4.3%. Horizon Bancorp (IN)'s payout ratio is currently 54.70%.

Analyst Upgrades and Downgrades

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

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.