Charles Schwab Investment Management Inc. Purchases 22,727 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Charles Schwab Investment Management Inc. raised its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 350,981 shares of the financial services provider’s stock after acquiring an additional 22,727 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.80% of Horizon Bancorp worth $5,458,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. CWM LLC boosted its position in Horizon Bancorp by 1,656.2% during the second 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 last quarter. Pathway Financial Advisers LLC boosted its position in Horizon Bancorp by 44.1% during the second quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 2,740 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Horizon Bancorp during the second quarter valued at $133,000. Elser Financial Planning Inc bought a new position in shares of Horizon Bancorp during the 2nd quarter worth about $137,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Horizon Bancorp by 16.5% during 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 purchasing an additional 1,749 shares in the last quarter. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Trading Down 0.8 %

HBNC opened at $17.63 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The firm has a market capitalization of $770.70 million, a PE ratio of 37.60 and a beta of 1.05. The company’s 50-day moving average is $16.91 and its 200 day moving average is $15.06.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. During the same quarter in the prior year, the business posted $0.37 EPS. As a group, research analysts predict that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Friday, October 4th. Horizon Bancorp’s payout ratio is 136.17%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HBNC. Keefe, Bruyette & Woods increased their price objective on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Hovde Group began coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.75.

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.