Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,222 shares of the financial services provider’s stock after buying an additional 3,851 shares during the period. Invesco Ltd. owned 0.26% of Horizon Bancorp worth $1,856,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. PL Capital Advisors LLC lifted its position in Horizon Bancorp by 1,521.9% in the 4th quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock valued at $384,931,000 after purchasing an additional 22,420,759 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Horizon Bancorp in the fourth quarter valued at approximately $3,783,000. Segall Bryant & Hamill LLC bought a new stake in shares of Horizon Bancorp during the fourth quarter valued at approximately $1,826,000. JPMorgan Chase & Co. boosted its position in shares of Horizon Bancorp by 99.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,568 shares of the financial services provider’s stock worth $3,424,000 after buying an additional 105,959 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Horizon Bancorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock worth $39,506,000 after buying an additional 91,476 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HBNC. Piper Sandler reduced their price target on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday. Keefe, Bruyette & Woods decreased their target price on shares of Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Friday, April 25th.

Horizon Bancorp Trading Up 0.7 %

Shares of HBNC stock opened at $14.84 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The stock has a 50-day simple moving average of $14.94 and a 200 day simple moving average of $16.19. Horizon Bancorp, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $19.18. The stock has a market capitalization of $653.18 million, a P/E ratio of 18.55 and a beta of 0.87.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The business had revenue of $69.17 million for the quarter, compared to the consensus estimate of $64.52 million. Horizon Bancorp had a net margin of 9.86% and a return on equity of 8.48%. On average, sell-side analysts expect that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Friday, April 4th. Horizon Bancorp’s dividend payout ratio is presently 62.75%.

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.