Horizon Bancorp (IN) (NASDAQ:HBNC) Short Interest Down 14.9% in January

Horizon Bancorp (IN) (NASDAQ:HBNC) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 1,233,401 shares, a decrease of 14.9% from the January 15th total of 1,449,277 shares. Based on an average daily volume of 399,656 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.5% of the company’s stock are sold short. Approximately 2.5% of the company’s stock are sold short. Based on an average daily volume of 399,656 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Investors Weigh In On Horizon Bancorp (IN)

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Horizon Bancorp (IN) by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 1,057 shares in the last quarter. Empowered Funds LLC increased its position in shares of Horizon Bancorp (IN) by 28.5% during the first quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock valued at $2,269,000 after purchasing an additional 33,355 shares during the period. Jane Street Group LLC acquired a new position in shares of Horizon Bancorp (IN) in the first quarter valued at $1,231,000. AlphaQuest LLC lifted its position in Horizon Bancorp (IN) by 394.0% in the second quarter. AlphaQuest LLC now owns 12,260 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 9,778 shares during the period. Finally, Keybank National Association OH boosted its stake in Horizon Bancorp (IN) by 7.6% during the second quarter. Keybank National Association OH now owns 14,089 shares of the financial services provider’s stock worth $217,000 after buying an additional 1,000 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Price Performance

NASDAQ HBNC opened at $18.01 on Monday. The stock has a 50-day simple moving average of $17.68 and a 200 day simple moving average of $16.66. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $19.07. The stock has a market capitalization of $922.47 million, a PE ratio of -5.72 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 11.56% and a negative net margin of 37.12%.The company had revenue of $64.53 million for the quarter, compared to the consensus estimate of $74.35 million. Research analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, January 2nd. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently -20.32%.

Wall Street Analyst Weigh In

Several research firms have commented on HBNC. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their price objective on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Zacks Research lowered Horizon Bancorp (IN) from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Horizon Bancorp (IN) has a consensus rating of “Hold” and an average price target of $20.33.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.