Horizon Bancorp (IN) (NASDAQ:HBNC) Issues Quarterly Earnings Results

Horizon Bancorp (IN) (NASDAQ:HBNC) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03, Zacks reports. Horizon Bancorp (IN) had a positive return on equity of 10.01% and a negative net margin of 51.01%.

Horizon Bancorp (IN) Trading Up 5.6%

Shares of NASDAQ:HBNC traded up $0.97 on Wednesday, hitting $18.24. The company had a trading volume of 374,932 shares, compared to its average volume of 326,379. The firm’s 50-day simple moving average is $17.19 and its two-hundred day simple moving average is $16.39. The firm has a market capitalization of $934.25 million, a price-to-earnings ratio of -4.64 and a beta of 0.82. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. Horizon Bancorp has a 1 year low of $12.70 and a 1 year high of $18.70.

Horizon Bancorp (IN) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.16 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.64 annualized dividend and a yield of 3.5%. Horizon Bancorp (IN)’s dividend payout ratio is -16.28%.

Institutional Trading of Horizon Bancorp (IN)

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Horizon Bancorp (IN) by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 1,057 shares during the period. Empowered Funds LLC boosted 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 in the last quarter. Jane Street Group LLC purchased a new stake in Horizon Bancorp (IN) in the first quarter worth $1,231,000. Rhumbline Advisers raised its holdings in Horizon Bancorp (IN) by 3.2% in the second quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock worth $1,052,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Horizon Bancorp (IN) during the second quarter valued at $816,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBNC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Horizon Bancorp (IN) in a research note on Tuesday, December 2nd. Finally, Zacks Research cut shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.67.

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.