Strs Ohio Sells 5,700 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Strs Ohio lessened its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,500 shares of the financial services provider’s stock after selling 5,700 shares during the period. Strs Ohio’s holdings in Horizon Bancorp were worth $694,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. EMC Capital Management raised its stake in Horizon Bancorp by 15.0% in the third quarter. EMC Capital Management now owns 9,709 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,267 shares during the period. AMI Investment Management Inc. raised its stake in Horizon Bancorp by 12.0% in the third quarter. AMI Investment Management Inc. now owns 12,527 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,341 shares during the period. Gamco Investors INC. ET AL raised its stake in Horizon Bancorp by 13.6% in the third quarter. Gamco Investors INC. ET AL now owns 12,500 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,500 shares during the period. 1ST Source Bank raised its stake in Horizon Bancorp by 2.7% in the third quarter. 1ST Source Bank now owns 69,533 shares of the financial services provider’s stock valued at $743,000 after buying an additional 1,860 shares during the period. Finally, Brandywine Global Investment Management LLC raised its stake in Horizon Bancorp by 1.9% in the third quarter. Brandywine Global Investment Management LLC now owns 113,000 shares of the financial services provider’s stock valued at $1,207,000 after buying an additional 2,100 shares during the period. Institutional investors own 64.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th.

Horizon Bancorp Price Performance

Shares of NASDAQ HBNC opened at $11.85 on Friday. The firm has a market cap of $522.70 million, a P/E ratio of 18.52 and a beta of 1.02. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.16. Horizon Bancorp, Inc. has a 1-year low of $7.69 and a 1-year high of $14.71. The business’s 50 day moving average is $12.10 and its 200-day moving average is $12.09.

Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $21.81 million for the quarter, compared to analyst estimates of $51.50 million. Horizon Bancorp had a return on equity of 9.42% and a net margin of 8.63%. Equities research analysts predict that Horizon Bancorp, Inc. will post 1.33 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.40%. Horizon Bancorp’s dividend payout ratio (DPR) is currently 100.00%.

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.