Keefe, Bruyette & Woods Lowers Horizon Bancorp (NASDAQ:HBNC) Price Target to $17.00

Horizon Bancorp (NASDAQ:HBNC - Free Report) had its price objective trimmed by Keefe, Bruyette & Woods from $18.00 to $17.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider's stock.

Separately, Piper Sandler cut their target price 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.

Horizon Bancorp Stock Up 1.2 %

Shares of Horizon Bancorp stock traded up $0.18 during trading on Friday, reaching $14.74. The company had a trading volume of 158,140 shares, compared to its average volume of 166,716. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp has a fifty-two week low of $11.40 and a fifty-two week high of $19.18. The firm's fifty day moving average is $14.98 and its 200-day moving average is $16.20. The company has a market cap of $648.78 million, a price-to-earnings ratio of 18.43 and a beta of 0.87.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.14. Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. The business had revenue of $69.17 million during the quarter, compared to the consensus estimate of $64.52 million. On average, analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Friday, April 4th. Horizon Bancorp's dividend payout ratio is presently 62.75%.

Institutional Trading of Horizon Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. 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 worth $16,387,000 after buying 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 worth $1,704,000 after buying an additional 42,218 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Horizon Bancorp by 37.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider's stock worth $1,658,000 after buying an additional 28,999 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Horizon Bancorp in the 4th quarter worth $602,000. Finally, Franklin Resources Inc. raised its stake in shares of Horizon Bancorp by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider's stock worth $399,000 after buying an additional 1,703 shares in the last quarter. Institutional investors own 64.51% of the company's stock.

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.