Horizon Bancorp Inc. IN Sells 43,726 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Horizon Bancorp Inc. IN decreased its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 572,730 shares of the financial services provider's stock after selling 43,726 shares during the period. Horizon Bancorp accounts for 4.4% of Horizon Bancorp Inc. IN's investment portfolio, making the stock its 5th biggest position. Horizon Bancorp Inc. IN owned approximately 1.31% of Horizon Bancorp worth $9,227,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of HBNC. Dimensional Fund Advisors LP increased its stake 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 worth $28,160,000 after acquiring an additional 135,217 shares during the last quarter. Foundry Partners LLC increased its position in shares of 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 acquiring an additional 57,240 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Horizon Bancorp by 5.2% in the 3rd 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 during the period. AQR Capital Management LLC lifted 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 acquiring an additional 50,666 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Horizon Bancorp by 62.7% in the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider's stock worth $1,704,000 after buying an additional 42,218 shares during the period. 64.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com raised Horizon Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Hovde Group started coverage on shares of Horizon Bancorp in a report on Monday, September 30th. They issued an "outperform" rating and a $18.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted 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.

Horizon Bancorp Stock Performance

HBNC traded up $0.27 on Tuesday, hitting $15.30. 34,326 shares of the company's stock were exchanged, compared to its average volume of 141,093. The firm has a market cap of $668.84 million, a PE ratio of 32.55 and a beta of 1.08. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month 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 has a fifty day moving average of $17.26 and a two-hundred day moving average of $15.80.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $102.40 million during the quarter, compared to the consensus estimate of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, research analysts anticipate that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Friday, January 3rd. Horizon Bancorp's dividend payout ratio (DPR) is 136.17%.

About Horizon Bancorp

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.