Barclays PLC grew its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 62.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 109,553 shares of the financial services provider's stock after buying an additional 42,218 shares during the quarter. Barclays PLC owned 0.25% of Horizon Bancorp worth $1,704,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in HBNC. Dimensional Fund Advisors LP raised its position in Horizon Bancorp by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider's stock valued at $28,160,000 after purchasing an additional 135,217 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Horizon Bancorp by 11.9% during the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider's stock valued at $5,915,000 after buying an additional 50,666 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Horizon Bancorp by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider's stock valued at $5,458,000 after buying an additional 22,727 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Horizon Bancorp by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider's stock worth $4,222,000 after buying an additional 12,357 shares during the last quarter. Finally, Foundry Partners LLC boosted its stake in Horizon Bancorp by 46.0% in the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider's stock worth $2,824,000 after buying an additional 57,240 shares in the last quarter. 64.51% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on HBNC shares. Hovde Group started coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They set an "outperform" rating and a $18.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, StockNews.com raised shares of Horizon Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, November 1st.
Read Our Latest Research Report on Horizon Bancorp
Horizon Bancorp Trading Down 1.6 %
HBNC stock traded down $0.26 during midday trading on Friday, hitting $16.09. The company had a trading volume of 119,426 shares, compared to its average volume of 162,659. The stock has a market cap of $703.37 million, a price-to-earnings ratio of 34.23 and a beta of 1.05. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The stock's 50 day moving average price is $17.29 and its 200 day moving average price is $15.47.
Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. During the same period in the prior year, the business posted $0.37 EPS. As a group, equities research analysts expect that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.
Horizon Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.98%. Horizon Bancorp's dividend payout ratio is currently 136.17%.
Horizon Bancorp Company Profile
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Free Report)
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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