Sanctuary Advisors LLC Acquires New Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Sanctuary Advisors LLC acquired a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,852 shares of the financial services provider’s stock, valued at approximately $150,000.

Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Horizon Bancorp by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock valued at $28,160,000 after buying an additional 135,217 shares during the period. PL Capital Advisors LLC raised its holdings in shares of Horizon Bancorp by 6.8% in the 1st quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider’s stock worth $20,825,000 after purchasing an additional 103,084 shares in the last quarter. LSV Asset Management raised its holdings in shares of Horizon Bancorp by 6.7% in the 1st quarter. LSV Asset Management now owns 557,373 shares of the financial services provider’s stock worth $7,151,000 after purchasing an additional 34,958 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Horizon Bancorp by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock worth $5,915,000 after purchasing an additional 50,666 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Horizon Bancorp by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider’s stock worth $4,222,000 after purchasing an additional 12,357 shares in the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp Trading Down 1.2 %

Shares of HBNC stock opened at $15.68 on Monday. Horizon Bancorp, Inc. has a 52-week low of $9.22 and a 52-week high of $16.64. The stock has a market cap of $691.74 million, a price-to-earnings ratio of 29.04 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. The firm has a fifty day moving average of $15.36 and a 200-day moving average of $13.65.

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. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.17%. The business had revenue of $97.47 million for the quarter, compared to analyst estimates of $55.03 million. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities research 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 was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Friday, October 4th. Horizon Bancorp’s payout ratio is 118.52%.

Wall Street Analyst Weigh In

A number of analysts recently commented on HBNC shares. Hovde Group started 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. Keefe, Bruyette & Woods boosted their target price on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Piper Sandler boosted their target price on shares of Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. 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, the company currently has an average rating of “Hold” and an average 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.