10,773 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 10,773 shares of the financial services provider’s stock, valued at approximately $133,000.

Several other hedge funds also recently modified their holdings of the company. CWM LLC increased its position 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 worth $40,000 after purchasing an additional 3,064 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in shares of Horizon Bancorp in the first quarter worth $80,000. Elser Financial Planning Inc bought a new position in Horizon Bancorp during the second quarter valued at about $137,000. EMC Capital Management lifted its holdings in shares of Horizon Bancorp by 11.0% during the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Horizon Bancorp by 16.5% during the first 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 owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Piper Sandler raised their target price on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Hovde Group started coverage on Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 target price for the company. Three 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 a consensus target price of $16.00.

Horizon Bancorp Stock Down 0.3 %

NASDAQ HBNC opened at $14.77 on Tuesday. The stock has a fifty day moving average of $15.29 and a 200-day moving average of $13.46. The stock has a market capitalization of $651.59 million, a P/E ratio of 27.35 and a beta of 1.04. Horizon Bancorp, Inc. has a 52 week low of $9.22 and a 52 week high of $16.64. 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 (NASDAQ:HBNC) last posted its earnings results 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 analyst estimates of $55.03 million. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. During the same period in the previous year, the company posted $0.41 earnings per share. On average, equities research analysts forecast that Horizon Bancorp, Inc. will post 1.38 EPS for the current year.

Horizon Bancorp Announces Dividend

The business 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 dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.64 annualized dividend and a yield of 4.33%. Horizon Bancorp’s payout ratio is presently 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.