Inspire Investing LLC Has $342,000 Position in Horizon Bancorp (IN) $HBNC

Inspire Investing LLC lowered its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 8.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,693 shares of the financial services provider’s stock after selling 2,185 shares during the period. Inspire Investing LLC owned approximately 0.05% of Horizon Bancorp (IN) worth $342,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in HBNC. BNP Paribas Financial Markets raised its position in shares of Horizon Bancorp (IN) by 33.3% during the fourth quarter. BNP Paribas Financial Markets now owns 28,089 shares of the financial services provider’s stock valued at $453,000 after buying an additional 7,019 shares during the last quarter. Bank of America Corp DE raised its position in shares of Horizon Bancorp (IN) by 13.3% during the fourth quarter. Bank of America Corp DE now owns 113,716 shares of the financial services provider’s stock valued at $1,832,000 after buying an additional 13,377 shares during the last quarter. Deutsche Bank AG raised its position in shares of Horizon Bancorp (IN) by 46.8% during the fourth quarter. Deutsche Bank AG now owns 45,258 shares of the financial services provider’s stock valued at $729,000 after buying an additional 14,428 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Horizon Bancorp (IN) during the fourth quarter valued at about $262,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 valued at $397,000 after buying an additional 792 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp (IN) Price Performance

Shares of Horizon Bancorp (IN) stock opened at $16.13 on Thursday. Horizon Bancorp has a 1-year low of $12.70 and a 1-year 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 0.14. The firm’s 50-day moving average price is $15.97 and its two-hundred day moving average price is $15.32. The stock has a market capitalization of $711.33 million, a price-to-earnings ratio of 13.79 and a beta of 0.86.

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

Wall Street Analyst Weigh In

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

About Horizon Bancorp (IN)

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.