Federated Hermes Inc. Sells 5,233 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Federated Hermes Inc. cut its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,720 shares of the financial services provider’s stock after selling 5,233 shares during the period. Federated Hermes Inc.’s holdings in Horizon Bancorp were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HBNC. SG Americas Securities LLC lifted its holdings in shares of Horizon Bancorp by 59.6% during the 3rd quarter. SG Americas Securities LLC now owns 25,451 shares of the financial services provider’s stock valued at $272,000 after buying an additional 9,506 shares during the period. Commonwealth Equity Services LLC bought a new position in Horizon Bancorp in the third quarter valued at about $169,000. Bank of New York Mellon Corp boosted its position in Horizon Bancorp by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 284,040 shares of the financial services provider’s stock worth $3,034,000 after purchasing an additional 3,712 shares during the last quarter. Strs Ohio grew its stake in shares of Horizon Bancorp by 3.0% during the 3rd quarter. Strs Ohio now owns 54,200 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 1,600 shares during the period. Finally, PL Capital Advisors LLC increased its position in shares of Horizon Bancorp by 4.3% during the 3rd quarter. PL Capital Advisors LLC now owns 1,620,090 shares of the financial services provider’s stock valued at $17,303,000 after purchasing an additional 67,000 shares during the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Up 0.5 %

NASDAQ HBNC opened at $12.47 on Friday. The stock’s 50-day moving average price is $12.04 and its 200-day moving average price is $12.16. The company has a market capitalization of $550.05 million, a P/E ratio of 23.09 and a beta of 1.04. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.16. Horizon Bancorp, Inc. has a 52 week low of $7.69 and a 52 week high of $14.71.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.13%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio is currently 118.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HBNC shares. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Piper Sandler dropped their price target on shares of Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th.

Horizon Bancorp Company 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.