Capital Asset Advisory Services LLC Increases Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Capital Asset Advisory Services LLC raised its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 46.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,523 shares of the financial services provider’s stock after purchasing an additional 4,943 shares during the period. Capital Asset Advisory Services LLC’s holdings in Horizon Bancorp were worth $185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Horizon Bancorp by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider’s stock valued at $23,325,000 after purchasing an additional 34,861 shares during the last quarter. Sapient Capital LLC acquired a new position in shares of Horizon Bancorp in the 4th quarter valued at $29,765,000. Dimensional Fund Advisors LP boosted its holdings in shares of Horizon Bancorp by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,955,694 shares of the financial services provider’s stock valued at $27,987,000 after buying an additional 94,332 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Horizon Bancorp by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 634,821 shares of the financial services provider’s stock valued at $6,780,000 after buying an additional 44,810 shares in the last quarter. Finally, Harbour Trust & Investment Management Co acquired a new position in shares of Horizon Bancorp in the 4th quarter valued at $6,167,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HBNC has been the subject of several research analyst reports. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Piper Sandler lowered their target price on shares of Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, April 29th.

Horizon Bancorp Stock Up 3.9 %

Shares of NASDAQ:HBNC opened at $12.37 on Friday. The stock has a market cap of $545.76 million, a P/E ratio of 22.91 and a beta of 1.05. The firm has a fifty day moving average price of $12.10 and a 200 day moving average price of $12.56. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.87 and a quick ratio of 0.87. Horizon Bancorp, Inc. has a 1-year low of $9.22 and a 1-year high of $14.71.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $53.22 million during the quarter, compared to analysts’ expectations of $53.90 million. Horizon Bancorp had a net margin of 7.02% and a return on equity of 8.71%. Sell-side analysts predict that Horizon Bancorp, Inc. will post 1.31 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Friday, July 5th. Horizon Bancorp’s dividend 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.