Horizon Bancorp, Inc. (NASDAQ:HBNC) Short Interest Update

Horizon Bancorp, Inc. (NASDAQ:HBNC - Get Free Report) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totalling 726,900 shares, a decrease of 7.8% from the March 15th total of 788,100 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 161,500 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Ratings Changes

Separately, StockNews.com lowered Horizon Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Horizon Bancorp has a consensus rating of "Hold" and an average target price of $13.00.

Institutional Trading of Horizon Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Horizon Bancorp by 24.5% in the 2nd quarter. BlackRock Inc. now owns 5,983,404 shares of the financial services provider's stock valued at $62,287,000 after purchasing an additional 1,177,772 shares in the last quarter. Vanguard Group Inc. increased its holdings in Horizon Bancorp by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,239,674 shares of the financial services provider's stock valued at $32,050,000 after purchasing an additional 55,681 shares in the last quarter. Sapient Capital LLC acquired a new stake in Horizon Bancorp in the 4th quarter valued at $29,765,000. Finally, Dimensional Fund Advisors LP increased its holdings in Horizon Bancorp by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,014,424 shares of the financial services provider's stock valued at $37,611,000 after purchasing an additional 23,227 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp Trading Down 0.1 %

Shares of HBNC stock traded down $0.01 on Tuesday, reaching $11.40. 120,505 shares of the stock were exchanged, compared to its average volume of 160,060. The stock has a market cap of $502.85 million, a P/E ratio of 17.83 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $12.19 and a two-hundred day moving average of $12.03. Horizon Bancorp has a 1-year low of $7.69 and a 1-year high of $14.71.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The business had revenue of $21.81 million during the quarter, compared to the consensus estimate of $51.50 million. Horizon Bancorp had a return on equity of 9.42% and a net margin of 8.63%. On average, research analysts anticipate that Horizon Bancorp will post 1.33 EPS for the current year.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.61%. Horizon Bancorp's payout ratio is 100.00%.

Horizon Bancorp 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.

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