Pathway Financial Advisers LLC Boosts Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Pathway Financial Advisers LLC lifted its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 44.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,956 shares of the financial services provider’s stock after buying an additional 2,740 shares during the period. Pathway Financial Advisers LLC’s holdings in Horizon Bancorp were worth $111,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Foundry Partners LLC grew its stake in shares of Horizon Bancorp by 67.6% in the second quarter. Foundry Partners LLC now owns 124,360 shares of the financial services provider’s stock worth $1,538,000 after acquiring an additional 50,143 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Horizon Bancorp by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,749 shares during the last quarter. Blue Trust Inc. raised its stake in Horizon Bancorp by 88,223.7% during the 1st quarter. Blue Trust Inc. now owns 67,126 shares of the financial services provider’s stock valued at $861,000 after buying an additional 67,050 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Horizon Bancorp by 46.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 15,523 shares of the financial services provider’s stock valued at $199,000 after buying an additional 4,943 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Horizon Bancorp by 6.7% in the 1st quarter. LSV Asset Management now owns 557,373 shares of the financial services provider’s stock worth $7,151,000 after buying an additional 34,958 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Piper Sandler raised their price objective on Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, Hovde Group initiated coverage on shares of Horizon Bancorp in a research note on Monday. They set an “outperform” rating and a $18.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

Horizon Bancorp Stock Down 4.1 %

NASDAQ HBNC opened at $14.92 on Wednesday. Horizon Bancorp, Inc. has a 12 month low of $9.22 and a 12 month high of $16.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. The stock has a market cap of $658.21 million, a PE ratio of 27.63 and a beta of 1.04. The stock’s 50 day moving average is $15.36 and its 200 day moving average is $13.40.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $97.47 million during the quarter, compared to analyst estimates of $55.03 million. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. During the same period in the prior year, the company earned $0.41 earnings per share. Research analysts predict that Horizon Bancorp, Inc. will post 1.38 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Friday, October 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 118.52%.

Horizon Bancorp 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.