Horizon Bancorp (IN) $HBNC Position Lessened by Swiss National Bank

Swiss National Bank trimmed its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,750 shares of the financial services provider’s stock after selling 1,300 shares during the period. Swiss National Bank owned about 0.19% of Horizon Bancorp (IN) worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aquatic Capital Management LLC purchased a new stake in shares of Horizon Bancorp (IN) during the fourth quarter worth $51,000. Quarry LP raised its holdings in shares of Horizon Bancorp (IN) 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Horizon Bancorp (IN) during the fourth quarter worth $82,000. EP Wealth Advisors LLC purchased a new stake in shares of Horizon Bancorp (IN) during the fourth quarter worth $162,000. Finally, CX Institutional bought a new position in Horizon Bancorp (IN) during the first quarter valued at about $153,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Friday, July 25th. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Piper Sandler raised their target price on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Horizon Bancorp (IN) Trading Up 0.1%

Shares of NASDAQ:HBNC opened at $15.66 on Tuesday. The company has a market cap of $690.61 million, a P/E ratio of 13.38 and a beta of 0.87. The stock’s 50-day moving average is $15.61 and its 200-day moving average is $15.35. Horizon Bancorp has a 52-week low of $12.70 and a 52-week high of $19.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. The company had revenue of $66.27 million for the quarter, compared to the consensus estimate of $66.45 million. Horizon Bancorp (IN) had a return on equity of 10.21% and a net margin of 13.84%. Equities research analysts predict that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a $0.16 dividend. This represents a $0.64 annualized dividend 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 currently 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.