Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,670 shares of the financial services provider’s stock after buying an additional 3,209 shares during the quarter. Federated Hermes Inc. owned 0.13% of Horizon Bancorp worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Horizon Bancorp by 5.1% during 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 acquiring an additional 94,332 shares in the last quarter. Capital Asset Advisory Services LLC boosted its holdings in shares of Horizon Bancorp by 46.7% during the first quarter. Capital Asset Advisory Services LLC now owns 15,523 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 4,943 shares during the period. Blue Trust Inc. grew its position in Horizon Bancorp by 88,223.7% during the first quarter. Blue Trust Inc. now owns 67,126 shares of the financial services provider’s stock valued at $861,000 after purchasing an additional 67,050 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Horizon Bancorp by 23.4% in the 1st quarter. BNP Paribas Financial Markets now owns 28,977 shares of the financial services provider’s stock valued at $372,000 after buying an additional 5,496 shares during the period. Finally, PL Capital Advisors LLC boosted its stake 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 buying an additional 103,084 shares during the period. 64.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HBNC shares. Piper Sandler lifted their target price on shares of Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, StockNews.com lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th.

Horizon Bancorp Stock Down 4.8 %

Horizon Bancorp stock opened at $15.77 on Monday. The company has a market capitalization of $695.71 million, a P/E ratio of 29.20 and a beta of 1.04. The firm’s fifty day simple moving average is $15.29 and its 200-day simple moving average is $13.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. Horizon Bancorp, Inc. has a 1-year low of $9.22 and a 1-year high of $16.64.

Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 EPS 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 the consensus estimate of $55.03 million. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.17%. During the same quarter last year, the firm posted $0.41 EPS. Sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.38 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company 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. The ex-dividend date is Friday, October 4th. This represents a $0.64 annualized dividend and a yield of 4.06%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 118.52%.

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.