The Manufacturers Life Insurance Company Sells 24,113 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

The Manufacturers Life Insurance Company trimmed its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 902,850 shares of the financial services provider’s stock after selling 24,113 shares during the period. The Manufacturers Life Insurance Company’s holdings in Horizon Bancorp were worth $14,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HBNC. CWM LLC lifted its stake in shares of Horizon Bancorp by 1,656.2% in the second quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $40,000 after buying an additional 3,064 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in Horizon Bancorp by 44.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 2,740 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Horizon Bancorp in the 2nd quarter worth approximately $133,000. Elser Financial Planning Inc bought a new position in Horizon Bancorp in the 2nd quarter valued at approximately $137,000. Finally, Price T Rowe Associates Inc. MD boosted 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 purchasing an additional 1,749 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp Trading Down 0.6 %

Horizon Bancorp stock opened at $18.29 on Monday. Horizon Bancorp, Inc. has a 52-week low of $10.78 and a 52-week high of $19.18. The company has a market cap of $799.64 million, a P/E ratio of 38.92 and a beta of 1.03. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The business has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $14.78.

Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $58.23 million. During the same period in the previous year, the business posted $0.37 earnings per share. Analysts predict that Horizon Bancorp, Inc. will post 1.4 EPS for the current year.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were issued a $0.16 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a yield of 3.50%. Horizon Bancorp’s dividend payout ratio is currently 136.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Hovde Group initiated coverage on shares of Horizon Bancorp in a report on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Horizon Bancorp presently has an average rating of “Hold” and a consensus price target of $16.00.

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.