Bank of America Corp DE Has $1.83 Million Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Bank of America Corp DE lifted its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 13.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,716 shares of the financial services provider’s stock after buying an additional 13,377 shares during the period. Bank of America Corp DE owned about 0.26% of Horizon Bancorp worth $1,832,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of HBNC. PL Capital Advisors LLC raised its holdings in shares of Horizon Bancorp by 1,521.9% during the 4th quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock worth $384,931,000 after buying an additional 22,420,759 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Horizon Bancorp during the 4th quarter worth $3,783,000. Segall Bryant & Hamill LLC acquired a new position in shares of Horizon Bancorp during the 4th quarter worth $1,826,000. JPMorgan Chase & Co. raised its holdings in shares of Horizon Bancorp by 99.4% during the 4th 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 in the last quarter. Finally, Vanguard Group Inc. increased 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 purchasing an additional 91,476 shares in the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HBNC shares. Piper Sandler lowered their target price on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Friday, April 25th.

Horizon Bancorp Price Performance

Shares of HBNC opened at $14.99 on Wednesday. Horizon Bancorp, Inc. has a 12-month low of $11.46 and a 12-month high of $19.18. The business has a 50-day simple moving average of $14.55 and a two-hundred day simple moving average of $15.94. 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 market cap of $659.78 million, a PE ratio of 18.74 and a beta of 0.82.

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

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.27%. Horizon Bancorp’s dividend payout ratio (DPR) 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.