Nuveen LLC Acquires Shares of 351,182 Horizon Bancorp (IN) $HBNC

Nuveen LLC bought a new position in Horizon Bancorp (IN) (NASDAQ:HBNC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 351,182 shares of the financial services provider’s stock, valued at approximately $5,296,000. Nuveen LLC owned 0.80% of Horizon Bancorp (IN) at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HBNC. Wells Fargo & Company MN grew its position in shares of Horizon Bancorp (IN) by 7.4% in the 4th quarter. Wells Fargo & Company MN now owns 80,116 shares of the financial services provider’s stock worth $1,291,000 after buying an additional 5,541 shares during the period. Invesco Ltd. grew its position in shares of Horizon Bancorp (IN) by 3.5% in the 4th quarter. Invesco Ltd. now owns 115,222 shares of the financial services provider’s stock worth $1,856,000 after buying an additional 3,851 shares during the period. Renaissance Technologies LLC grew its position in shares of Horizon Bancorp (IN) by 58.2% in the 4th quarter. Renaissance Technologies LLC now owns 89,716 shares of the financial services provider’s stock worth $1,445,000 after buying an additional 33,000 shares during the period. Barclays PLC grew its position in shares of Horizon Bancorp (IN) by 8.9% in the 4th quarter. Barclays PLC now owns 119,343 shares of the financial services provider’s stock worth $1,923,000 after buying an additional 9,790 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 81,943 shares during the period. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp (IN) Price Performance

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

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its 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 business had revenue of $66.27 million for 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 10.21%. As a group, analysts predict that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HBNC shares. Keefe, Bruyette & Woods upped their target price on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Piper Sandler upped their price target on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Horizon Bancorp (IN) has an average rating of “Hold” and an average price target of $18.00.

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.