EP Wealth Advisors LLC Has $216,000 Stake in Horizon Bancorp (IN) $HBNC

EP Wealth Advisors LLC increased its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 42.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,295 shares of the financial services provider’s stock after acquiring an additional 4,246 shares during the period. EP Wealth Advisors LLC’s holdings in Horizon Bancorp (IN) were worth $216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Horizon Bancorp (IN) by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,665 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 792 shares during the period. Meritage Portfolio Management lifted its stake in shares of Horizon Bancorp (IN) by 5.5% in the first quarter. Meritage Portfolio Management now owns 23,491 shares of the financial services provider’s stock worth $354,000 after buying an additional 1,231 shares during the last quarter. Occudo Quantitative Strategies LP boosted its holdings in shares of Horizon Bancorp (IN) by 9.4% during the 4th quarter. Occudo Quantitative Strategies LP now owns 20,525 shares of the financial services provider’s stock worth $331,000 after buying an additional 1,759 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Horizon Bancorp (IN) by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,723 shares of the financial services provider’s stock worth $270,000 after buying an additional 2,638 shares during the period. Finally, Federated Hermes Inc. grew its stake in Horizon Bancorp (IN) by 4.8% in the 1st quarter. Federated Hermes Inc. now owns 61,526 shares of the financial services provider’s stock valued at $928,000 after buying an additional 2,794 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HBNC has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Stephens increased their target price on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Keefe, Bruyette & Woods raised Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and raised their target price for the company from $18.00 to $19.00 in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Horizon Bancorp (IN) Stock Down 1.2%

Shares of HBNC opened at $16.43 on Wednesday. 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 company has a 50-day simple moving average of $15.97 and a 200-day simple moving average of $15.32. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $19.18. The firm has a market capitalization of $724.56 million, a P/E ratio of 14.04 and a beta of 0.86.

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 firm had revenue of $66.27 million for the quarter, compared to analyst estimates of $66.45 million. Horizon Bancorp (IN) had a return on equity of 10.21% and a net margin of 13.84%. On average, equities research analysts expect 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. Shareholders of record on Thursday, July 3rd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 3rd. Horizon Bancorp (IN)’s payout ratio 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.