Harbour Trust & Investment Management Co decreased its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339,120 shares of the financial services provider's stock after selling 62,310 shares during the period. Harbour Trust & Investment Management Co owned about 0.78% of Horizon Bancorp worth $5,463,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Horizon Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider's stock valued at $16,387,000 after acquiring an additional 52,423 shares in the last quarter. Barclays PLC raised its stake in shares of Horizon Bancorp by 62.7% in the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider's stock valued at $1,704,000 after purchasing an additional 42,218 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Horizon Bancorp by 37.4% during the third quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider's stock worth $1,658,000 after purchasing an additional 28,999 shares during the last quarter. Franklin Resources Inc. grew its stake in Horizon Bancorp by 7.0% in the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider's stock worth $399,000 after purchasing an additional 1,703 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Horizon Bancorp by 32.0% in the third quarter. Jane Street Group LLC now owns 57,068 shares of the financial services provider's stock valued at $887,000 after buying an additional 13,827 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company's stock.
Analysts Set New Price Targets
HBNC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler reduced their price objective on Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of Horizon Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, November 1st.
Get Our Latest Report on Horizon Bancorp
Horizon Bancorp Stock Performance
NASDAQ HBNC traded up $0.05 on Thursday, hitting $17.33. The stock had a trading volume of 96,149 shares, compared to its average volume of 163,340. The company's 50-day moving average is $16.57 and its two-hundred day moving average is $16.22. Horizon Bancorp, Inc. has a one year low of $11.18 and a one year high of $19.18. The stock has a market cap of $757.58 million, a price-to-earnings ratio of 21.66 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83.
Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.
Horizon Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Friday, January 3rd. Horizon Bancorp's dividend payout ratio (DPR) is presently 80.00%.
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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