Hsbc Holdings PLC lifted its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC – Free Report) by 274.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,277 shares of the financial services provider’s stock after purchasing an additional 58,840 shares during the quarter. Hsbc Holdings PLC’s holdings in Horizon Bancorp (IN) were worth $1,327,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Horizon Bancorp (IN) by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock valued at $54,093,000 after buying an additional 176,448 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Horizon Bancorp (IN) by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock valued at $41,116,000 after acquiring an additional 75,462 shares in the last quarter. PL Capital Advisors LLC raised its position in shares of Horizon Bancorp (IN) by 7.2% in the 4th quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock valued at $30,746,000 after purchasing an additional 121,651 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Horizon Bancorp (IN) in the 3rd quarter valued at approximately $24,842,000. Finally, State Street Corp boosted its stake in Horizon Bancorp (IN) by 19.9% in the 4th quarter. State Street Corp now owns 1,480,580 shares of the financial services provider’s stock worth $25,111,000 after purchasing an additional 245,416 shares in the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday. Stephens reiterated an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Piper Sandler reissued a “neutral” rating and set a $23.00 price objective (up from $21.00) on shares of Horizon Bancorp (IN) in a report on Friday. Weiss Ratings downgraded Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.33.
Horizon Bancorp (IN) Stock Performance
HBNC opened at $20.36 on Tuesday. Horizon Bancorp has a 12-month low of $14.84 and a 12-month high of $20.66. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.05 billion, a PE ratio of -6.44 and a beta of 0.82. The firm has a 50 day moving average of $19.40 and a two-hundred day moving average of $18.08.
Horizon Bancorp (IN) (NASDAQ:HBNC – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Horizon Bancorp (IN) had a positive return on equity of 13.52% and a negative net margin of 36.38%.The business had revenue of $75.50 million during the quarter, compared to analyst estimates of $76.56 million. On average, analysts anticipate that Horizon Bancorp will post 2.09 EPS for the current year.
Horizon Bancorp (IN) Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Horizon Bancorp (IN)’s payout ratio is -20.25%.
Horizon Bancorp (IN) Profile
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.
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