Harbour Trust & Investment Management Co Decreases Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Harbour Trust & Investment Management Co lessened its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 401,430 shares of the financial services provider's stock after selling 54,478 shares during the quarter. Harbour Trust & Investment Management Co owned approximately 0.91% of Horizon Bancorp worth $6,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HBNC. Dimensional Fund Advisors LP raised its position in Horizon Bancorp by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider's stock valued at $28,160,000 after purchasing an additional 135,217 shares during the last quarter. PL Capital Advisors LLC raised its holdings in shares of Horizon Bancorp by 6.8% during the first quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider's stock valued at $20,825,000 after acquiring an additional 103,084 shares in the last quarter. LSV Asset Management lifted its stake in Horizon Bancorp by 6.7% in the first quarter. LSV Asset Management now owns 557,373 shares of the financial services provider's stock worth $7,151,000 after acquiring an additional 34,958 shares during the period. AQR Capital Management LLC boosted its holdings in Horizon Bancorp by 11.9% in the second 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, Bank of New York Mellon Corp increased its position in Horizon Bancorp by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider's stock valued at $4,222,000 after purchasing an additional 12,357 shares during the period. Institutional investors own 64.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on HBNC. Keefe, Bruyette & Woods raised their target price on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th. 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 objective for the company. StockNews.com downgraded Horizon Bancorp from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Piper Sandler raised their target price on Horizon Bancorp from $13.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Horizon Bancorp currently has a consensus rating of "Hold" and a consensus price target of $16.00.

Horizon Bancorp Stock Down 0.7 %

Shares of NASDAQ HBNC traded down $0.11 on Friday, reaching $15.91. 144,678 shares of the company's stock traded hands, compared to its average volume of 160,381. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. The business's 50 day simple moving average is $15.46 and its two-hundred day simple moving average is $13.75. Horizon Bancorp, Inc. has a 12 month low of $9.22 and a 12 month high of $16.64. The company has a market cap of $701.89 million, a price-to-earnings ratio of 29.46 and a beta of 1.04.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $58.23 million. During the same quarter last year, the company earned $0.37 EPS. As a group, equities research analysts forecast that Horizon Bancorp, Inc. will post 1.38 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Friday, October 4th. Horizon Bancorp's payout ratio is 118.52%.

Horizon Bancorp 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.