Ameriprise Financial Inc. Sells 38,541 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Ameriprise Financial Inc. lowered its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 41.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,245 shares of the financial services provider’s stock after selling 38,541 shares during the quarter. Ameriprise Financial Inc. owned about 0.13% of Horizon Bancorp worth $890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its stake in Horizon Bancorp by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,233 shares during the period. R Squared Ltd purchased a new position in shares of Horizon Bancorp in the fourth quarter worth $39,000. Aquatic Capital Management LLC purchased a new position in shares of Horizon Bancorp in the fourth quarter worth $51,000. Quarry LP boosted its position in shares of Horizon Bancorp by 64.4% during the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,352 shares during the last quarter. Finally, POM Investment Strategies LLC purchased a new position in shares of Horizon Bancorp during the fourth quarter valued at about $92,000. Institutional investors own 64.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Friday, April 25th. Piper Sandler reduced their price objective on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, April 28th.

Horizon Bancorp Price Performance

NASDAQ:HBNC opened at $14.80 on Tuesday. The company has a 50 day moving average price of $14.56 and a 200-day moving average price of $15.95. The firm has a market cap of $651.42 million, a price-to-earnings ratio of 18.50 and a beta of 0.82. Horizon Bancorp, Inc. has a 1-year low of $11.46 and a 1-year high of $19.18. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The company had revenue of $69.17 million for the quarter, compared to analysts’ expectations of $64.52 million. Equities research analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, April 4th. Horizon Bancorp’s payout ratio is presently 62.75%.

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.