Horizon Bancorp (IN) $HBNC Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 1.0% in the second quarter, HoldingsChannel.com reports. The fund owned 704,573 shares of the financial services provider’s stock after selling 7,300 shares during the period. LSV Asset Management’s holdings in Horizon Bancorp (IN) were worth $10,836,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HBNC. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Horizon Bancorp (IN) by 14.2% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 95,539 shares of the financial services provider’s stock worth $1,469,000 after purchasing an additional 11,846 shares during the period. Creative Planning increased its stake in Horizon Bancorp (IN) by 88.1% during the 2nd quarter. Creative Planning now owns 115,125 shares of the financial services provider’s stock worth $1,771,000 after buying an additional 53,924 shares during the period. Geode Capital Management LLC lifted its holdings in Horizon Bancorp (IN) by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,096,524 shares of the financial services provider’s stock worth $16,868,000 after buying an additional 12,465 shares in the last quarter. CSM Advisors LLC purchased a new position in Horizon Bancorp (IN) in the 2nd quarter valued at approximately $3,479,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Horizon Bancorp (IN) by 95.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,665 shares of the financial services provider’s stock worth $2,056,000 after acquiring an additional 65,375 shares during the period. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Trading Up 0.7%

NASDAQ:HBNC opened at $15.74 on Thursday. Horizon Bancorp has a 1 year low of $12.70 and a 1 year high of $19.18. The stock has a market cap of $806.16 million, a P/E ratio of -4.01 and a beta of 0.90. 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 50-day simple moving average of $15.96 and a 200-day simple moving average of $15.71.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.16). The business had revenue of $59.98 million for the quarter, compared to analyst estimates of $69.34 million. Horizon Bancorp (IN) had a positive return on equity of 9.64% and a negative net margin of 51.01%. As a group, analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 4.1%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is presently -16.28%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HBNC. Piper Sandler lifted 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. Zacks Research raised Horizon Bancorp (IN) from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods upgraded shares of Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $18.00 to $19.00 in a research note on Tuesday, August 26th. Wall Street Zen cut shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Stephens lifted 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 note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

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.