American Century Companies Inc. Reduces Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

American Century Companies Inc. cut its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 547,190 shares of the financial services provider’s stock after selling 9,873 shares during the quarter. American Century Companies Inc. owned 1.24% of Horizon Bancorp worth $6,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. CWM LLC boosted its holdings in Horizon Bancorp by 1,656.2% during the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 3,064 shares during the period. Pathway Financial Advisers LLC purchased a new stake in Horizon Bancorp in the 1st quarter worth approximately $80,000. Elser Financial Planning Inc purchased a new stake in Horizon Bancorp in the 2nd quarter worth approximately $137,000. EMC Capital Management lifted its holdings in Horizon Bancorp by 11.0% in the 1st quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock worth $138,000 after buying an additional 1,064 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Horizon Bancorp by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,749 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Performance

Shares of HBNC stock opened at $15.54 on Wednesday. The company has a market capitalization of $685.56 million, a price-to-earnings ratio of 28.78 and a beta of 1.04. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp, Inc. has a one year low of $9.22 and a one year high of $16.64. The company’s 50-day moving average is $15.34 and its 200 day moving average is $13.29.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. The business had revenue of $97.47 million for the quarter, compared to the consensus estimate of $55.03 million. During the same period last year, the business posted $0.41 EPS. Sell-side analysts expect that Horizon Bancorp, Inc. will post 1.38 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, October 4th. Horizon Bancorp’s dividend payout ratio (DPR) is 118.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HBNC shares. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods increased their price objective on Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Piper Sandler increased their price objective on Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, July 29th.

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.