Creative Planning Acquires 4,155 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Creative Planning lifted its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,679 shares of the financial services provider’s stock after acquiring an additional 4,155 shares during the period. Creative Planning owned 0.13% of Horizon Bancorp worth $866,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 period. Pathway Financial Advisers LLC purchased a new stake in Horizon Bancorp in the first quarter worth $80,000. Mackenzie Financial Corp bought a new stake in shares of Horizon Bancorp during the second quarter worth $133,000. Elser Financial Planning Inc purchased a new stake in shares of Horizon Bancorp during the second quarter valued at $137,000. Finally, EMC Capital Management boosted its stake in shares of Horizon Bancorp by 11.0% during the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 1,064 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

HBNC has been the topic of a number of recent research reports. Piper Sandler increased their price target on Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Hovde Group began 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 on the stock. Finally, Keefe, Bruyette & Woods upped their price target 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Horizon Bancorp Stock Performance

Shares of Horizon Bancorp stock opened at $16.11 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50 day moving average price is $15.57 and its 200 day moving average price is $13.93. The company has a market cap of $704.17 million, a price-to-earnings ratio of 34.28 and a beta of 1.03. Horizon Bancorp, Inc. has a one year low of $9.51 and a one year high of $16.72.

Horizon Bancorp (NASDAQ:HBNC) 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. The company had revenue of $102.40 million for the quarter, compared to the consensus estimate of $58.23 million. Horizon Bancorp had a return on equity of 8.36% and a net margin of 5.89%. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, research analysts predict that Horizon Bancorp, Inc. will post 1.41 EPS for the current year.

Horizon Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a $0.16 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.97%. Horizon Bancorp’s payout ratio is currently 136.17%.

About Horizon Bancorp

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.