Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 549,523 shares of the financial services provider’s stock after selling 7,850 shares during the period. LSV Asset Management owned approximately 1.25% of Horizon Bancorp worth $6,798,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of Horizon Bancorp by 1,656.2% in the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 3,064 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Horizon Bancorp in the 1st quarter worth $80,000. Elser Financial Planning Inc acquired a new position in Horizon Bancorp in the second quarter valued at $137,000. EMC Capital Management grew its position in Horizon Bancorp by 11.0% during the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 1,064 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Horizon Bancorp by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 1,749 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HBNC shares. Piper Sandler increased their target price on shares of Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, StockNews.com lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, September 7th.

Horizon Bancorp Stock Performance

Shares of NASDAQ:HBNC opened at $15.36 on Thursday. The business’s 50-day simple moving average is $14.82 and its 200 day simple moving average is $13.05. The company has a market cap of $677.62 million, a P/E ratio of 28.44 and a beta of 1.04. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp, Inc. has a one year low of $9.22 and a one year high of $16.62.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.17%. The company had revenue of $97.47 million for the quarter, compared to analyst estimates of $55.03 million. During the same quarter last year, the firm posted $0.41 earnings per share. On average, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.38 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Friday, July 5th. Horizon Bancorp’s payout ratio is currently 118.52%.

Horizon Bancorp Company 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.