Thrivent Financial for Lutherans Trims Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Thrivent Financial for Lutherans decreased its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,280 shares of the financial services provider’s stock after selling 1,284 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.22% of Horizon Bancorp worth $1,215,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Foundry Partners LLC grew its stake in 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 purchasing an additional 50,143 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 1,749 shares during the period. Blue Trust Inc. raised its holdings in shares of Horizon Bancorp by 88,223.7% in the first quarter. Blue Trust Inc. now owns 67,126 shares of the financial services provider’s stock valued at $861,000 after acquiring an additional 67,050 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Horizon Bancorp by 46.7% in the first quarter. Axxcess Wealth Management LLC now owns 15,523 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 4,943 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Horizon Bancorp by 6.7% in the first quarter. LSV Asset Management now owns 557,373 shares of the financial services provider’s stock worth $7,151,000 after acquiring an additional 34,958 shares during the period. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Trading Up 2.0 %

NASDAQ HBNC opened at $14.82 on Friday. Horizon Bancorp, Inc. has a 52 week low of $9.22 and a 52 week high of $16.64. The company has a 50 day moving average price of $15.29 and a 200 day moving average price of $13.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. The firm has a market cap of $653.80 million, a PE ratio of 27.44 and a beta of 1.04.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $97.47 million for the quarter, compared to the consensus estimate 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 firm posted $0.41 earnings per share. As a group, sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.38 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, October 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 118.52%.

Wall Street Analyst Weigh In

HBNC has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Hovde Group initiated coverage on Horizon Bancorp in a report on Monday, September 30th. They set an “outperform” rating and a $18.00 target price for the company. Finally, StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

About Horizon Bancorp

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.