Horizon Bancorp, Inc. (NASDAQ:HBNC) Stock Holdings Trimmed by PL Capital Advisors LLC

PL Capital Advisors LLC lessened its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC - Free Report) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,473,174 shares of the financial services provider's stock after selling 150,000 shares during the quarter. Horizon Bancorp comprises 7.7% of PL Capital Advisors LLC's holdings, making the stock its 6th biggest position. PL Capital Advisors LLC owned 3.34% of Horizon Bancorp worth $22,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HBNC. EMC Capital Management boosted its holdings in Horizon Bancorp by 11.0% in the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider's stock worth $138,000 after acquiring an additional 1,064 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Horizon Bancorp by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider's stock worth $159,000 after purchasing an additional 1,749 shares in the last quarter. Rhumbline Advisers grew its position in Horizon Bancorp by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 68,944 shares of the financial services provider's stock worth $853,000 after purchasing an additional 2,120 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in Horizon Bancorp by 44.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 2,740 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Horizon Bancorp by 1,656.2% in the second quarter. CWM LLC now owns 3,249 shares of the financial services provider's stock worth $40,000 after buying an additional 3,064 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company's stock.

Horizon Bancorp Stock Performance

Shares of HBNC traded up $0.09 during trading hours on Friday, hitting $16.11. The stock had a trading volume of 140,726 shares, compared to its average volume of 141,460. The firm has a 50-day moving average price of $15.57 and a 200 day moving average price of $13.94. Horizon Bancorp, Inc. has a fifty-two week low of $9.51 and a fifty-two week high of $16.72. The firm has a market capitalization of $704.17 million, a price-to-earnings ratio of 34.28 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.36% and a net margin of 5.89%. The firm had revenue of $102.40 million for the quarter, compared to analysts' expectations of $58.23 million. During the same period last year, the firm earned $0.37 EPS. As a group, research analysts anticipate that Horizon Bancorp, Inc. will post 1.41 EPS for the current year.

Horizon Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.64 annualized dividend and a dividend yield of 3.97%. Horizon Bancorp's dividend payout ratio (DPR) is 136.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HBNC. Piper Sandler raised their price objective on Horizon Bancorp from $13.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of Horizon Bancorp from $14.00 to $16.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Hovde Group assumed coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They set an "outperform" rating and a $18.00 target price for the company. Finally, StockNews.com upgraded Horizon Bancorp from a "sell" rating to a "hold" rating in a research note on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $16.00.

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.