Victory Capital Management Inc. Invests $995,000 in Horizon Bancorp (IN) (NASDAQ:HBNC)

Victory Capital Management Inc. bought a new stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 66,000 shares of the financial services provider’s stock, valued at approximately $995,000. Victory Capital Management Inc. owned approximately 0.15% of Horizon Bancorp (IN) as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Horizon Bancorp (IN) by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,464,189 shares of the financial services provider’s stock worth $39,698,000 after purchasing an additional 81,943 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Horizon Bancorp (IN) by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 2,452,279 shares of the financial services provider’s stock valued at $39,506,000 after buying an additional 91,476 shares during the period. LSV Asset Management raised its stake in Horizon Bancorp (IN) by 11.7% in the fourth quarter. LSV Asset Management now owns 614,055 shares of the financial services provider’s stock worth $9,892,000 after buying an additional 64,532 shares in the last quarter. American Century Companies Inc. lifted its holdings in Horizon Bancorp (IN) by 0.9% in the fourth quarter. American Century Companies Inc. now owns 568,469 shares of the financial services provider’s stock worth $9,158,000 after buying an additional 5,129 shares during the period. Finally, Rhino Investment Partners Inc lifted its holdings in Horizon Bancorp (IN) by 0.4% in the fourth quarter. Rhino Investment Partners Inc now owns 530,363 shares of the financial services provider’s stock worth $8,544,000 after buying an additional 2,104 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods upped their price target on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Finally, Piper Sandler increased their price objective on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday.

Horizon Bancorp (IN) Stock Down 1.6%

Shares of NASDAQ:HBNC opened at $15.49 on Friday. Horizon Bancorp has a 12-month low of $12.70 and a 12-month high of $19.18. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $15.35 and a two-hundred day simple moving average of $15.48. The stock has a market capitalization of $681.71 million, a price-to-earnings ratio of 13.24 and a beta of 0.84.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.30%. The company had revenue of $66.27 million for the quarter, compared to analysts’ expectations of $66.45 million. On average, research analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.1%. Horizon Bancorp (IN)’s dividend payout ratio is presently 54.70%.

Horizon Bancorp (IN) 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.