Thrivent Financial for Lutherans Trims Stock Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Thrivent Financial for Lutherans cut its position in Horizon Bancorp, Inc. (NASDAQ:HBNC – Get Rating) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,830 shares of the financial services provider’s stock after selling 11,144 shares during the period. Thrivent Financial for Lutherans owned approximately 0.15% of Horizon Bancorp worth $1,008,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Horizon Bancorp by 22.0% in the third quarter. BlackRock Inc. now owns 3,941,098 shares of the financial services provider’s stock worth $70,784,000 after acquiring an additional 711,159 shares during the period. LSV Asset Management lifted its holdings in shares of Horizon Bancorp by 41.7% in the 1st quarter. LSV Asset Management now owns 531,296 shares of the financial services provider’s stock valued at $9,919,000 after buying an additional 156,246 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Horizon Bancorp by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,333,562 shares of the financial services provider’s stock valued at $41,912,000 after buying an additional 119,658 shares during the period. State Street Corp grew its holdings in Horizon Bancorp by 7.2% during the first quarter. State Street Corp now owns 1,332,780 shares of the financial services provider’s stock worth $24,883,000 after acquiring an additional 89,896 shares during the period. Finally, Millennium Management LLC raised its position in Horizon Bancorp by 180.6% during the second quarter. Millennium Management LLC now owns 117,860 shares of the financial services provider’s stock valued at $2,053,000 after acquiring an additional 75,858 shares in the last quarter. 56.13% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Performance

HBNC opened at $9.52 on Wednesday. The firm’s fifty day simple moving average is $10.07 and its two-hundred day simple moving average is $13.49. Horizon Bancorp, Inc. has a 52-week low of $7.69 and a 52-week high of $20.64. The company has a market cap of $420.02 million, a price-to-earnings ratio of 4.71 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.17.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Investors of record on Friday, April 7th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.72%. The ex-dividend date was Wednesday, April 5th. Horizon Bancorp’s payout ratio is 31.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HBNC shares. TheStreet lowered Horizon Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, April 24th. Piper Sandler lowered shares of Horizon Bancorp from an “overweight” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research report on Wednesday, February 22nd. StockNews.com started coverage on shares of Horizon Bancorp in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Raymond James dropped their target price on Horizon Bancorp from $18.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Horizon Bancorp presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Horizon Bancorp Profile

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Horizon Bancorp, Inc (Indiana) is a bank holding company, which engages in the provision of commercial and retail banking services. It offers personal banking, business banking, investment and trust, and mortgage services. The company was founded in 1873 and is headquartered in Michigan City, IN.