Geode Capital Management LLC boosted its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053,625 shares of the financial services provider's stock after purchasing an additional 52,423 shares during the quarter. Geode Capital Management LLC owned about 2.41% of Horizon Bancorp worth $16,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HBNC. Quarry LP increased its position in shares of Horizon Bancorp by 508.1% during the third quarter. Quarry LP now owns 2,098 shares of the financial services provider's stock worth $33,000 after purchasing an additional 1,753 shares in the last quarter. CWM LLC grew its stake in Horizon Bancorp by 114.2% during the 3rd quarter. CWM LLC now owns 6,958 shares of the financial services provider's stock worth $108,000 after buying an additional 3,709 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in Horizon Bancorp by 44.1% in the second quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider's stock valued at $111,000 after buying an additional 2,740 shares during the last quarter. Centiva Capital LP acquired a new stake in Horizon Bancorp in the third quarter worth about $163,000. Finally, Mackenzie Financial Corp acquired a new stake in Horizon Bancorp in the second quarter worth about $133,000. Hedge funds and other institutional investors own 64.51% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on HBNC. StockNews.com raised shares of Horizon Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods upped their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Hovde Group initiated coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They set an "outperform" rating and a $18.00 price objective for the company.
Check Out Our Latest Research Report on Horizon Bancorp
Horizon Bancorp Stock Performance
NASDAQ:HBNC traded down $0.03 during midday trading on Monday, hitting $16.06. The company's stock had a trading volume of 93,027 shares, compared to its average volume of 162,381. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The firm's 50 day moving average is $17.32 and its 200-day moving average is $15.52. The firm has a market cap of $702.06 million, a P/E ratio of 34.17 and a beta of 1.05.
Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $102.40 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.37 earnings per share. Equities analysts anticipate that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.
Horizon Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Friday, January 3rd. Horizon Bancorp's dividend payout ratio (DPR) is 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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