Y Intercept Hong Kong Ltd Takes Position in Horizon Bancorp (IN) (NASDAQ:HBNC)

Y Intercept Hong Kong Ltd purchased a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,114 shares of the financial services provider’s stock, valued at approximately $198,000.

A number of other large investors also recently modified their holdings of the company. Aquatic Capital Management LLC purchased a new stake in shares of Horizon Bancorp (IN) in the 4th quarter valued at about $51,000. Quarry LP increased its position in shares of Horizon Bancorp (IN) by 64.4% in the fourth quarter. Quarry LP now owns 3,450 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,352 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Horizon Bancorp (IN) in the fourth quarter valued at approximately $82,000. KLP Kapitalforvaltning AS bought a new stake in Horizon Bancorp (IN) during the fourth quarter valued at approximately $143,000. Finally, CX Institutional bought a new stake in Horizon Bancorp (IN) during the first quarter valued at approximately $153,000. 64.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Horizon Bancorp (IN) Stock Down 1.6%

Shares of NASDAQ HBNC opened at $15.49 on Friday. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50 day simple moving average is $15.35 and its two-hundred day simple moving average is $15.48. The stock has a market capitalization of $681.71 million, a P/E ratio of 13.24 and a beta of 0.84.

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

Horizon Bancorp (IN) Announces Dividend

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

Horizon Bancorp (IN) 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.