Bank of New York Mellon Corp Lowers Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Bank of New York Mellon Corp reduced its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 273,189 shares of the financial services provider's stock after selling 33,094 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Horizon Bancorp worth $4,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HBNC. Quarry LP increased its stake in Horizon Bancorp by 508.1% during the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 1,753 shares in the last quarter. R Squared Ltd bought a new stake in shares of Horizon Bancorp in the fourth quarter worth approximately $39,000. POM Investment Strategies LLC bought a new stake in shares of Horizon Bancorp in the fourth quarter worth approximately $92,000. Centiva Capital LP bought a new stake in shares of Horizon Bancorp in the third quarter worth approximately $163,000. Finally, Walleye Capital LLC bought a new stake in shares of Horizon Bancorp in the third quarter worth approximately $169,000. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp Stock Performance

Shares of HBNC traded down $0.33 on Friday, reaching $15.28. The company's stock had a trading volume of 401,147 shares, compared to its average volume of 157,924. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $672.55 million, a P/E ratio of 19.10 and a beta of 1.05. The stock's 50 day simple moving average is $16.41 and its two-hundred day simple moving average is $16.44. Horizon Bancorp, Inc. has a 12-month low of $11.18 and a 12-month high of $19.18.

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Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last posted 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%. Research analysts forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, April 4th. Horizon Bancorp's dividend payout ratio is currently 80.00%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HBNC. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price target on shares of Horizon Bancorp from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Monday, January 27th.

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.