Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Acquired by Creative Planning

Creative Planning raised its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 21.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,524 shares of the financial services provider’s stock after buying an additional 9,183 shares during the period. Creative Planning owned approximately 0.12% of Horizon Bancorp worth $637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Horizon Bancorp by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock valued at $28,160,000 after acquiring an additional 135,217 shares during the period. PL Capital Advisors LLC increased its position in shares of Horizon Bancorp by 6.8% during the 1st quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider’s stock valued at $20,825,000 after purchasing an additional 103,084 shares during the period. Blue Trust Inc. raised its stake in shares of Horizon Bancorp by 88,223.7% in the 1st quarter. Blue Trust Inc. now owns 67,126 shares of the financial services provider’s stock worth $861,000 after buying an additional 67,050 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Horizon Bancorp by 11.9% in the second quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after buying an additional 50,666 shares during the period. Finally, Foundry Partners LLC boosted its stake in Horizon Bancorp by 67.6% during the second quarter. Foundry Partners LLC now owns 124,360 shares of the financial services provider’s stock valued at $1,538,000 after buying an additional 50,143 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Piper Sandler upped 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. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Hovde Group started coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Horizon Bancorp has a consensus rating of “Hold” and an average price target of $16.00.

Horizon Bancorp Stock Performance

Shares of HBNC opened at $15.23 on Monday. The company has a 50-day moving average of $15.21 and a two-hundred day moving average of $13.54. The stock has a market cap of $671.89 million, a price-to-earnings ratio of 28.20 and a beta of 1.04. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88. Horizon Bancorp, Inc. has a one year low of $9.22 and a one year high of $16.64.

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

Horizon Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, October 4th. Horizon Bancorp’s dividend payout ratio is currently 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.