Horizon Bancorp, Inc. (NASDAQ:HBNC) Stock Position Lowered by State Street Corp

State Street Corp trimmed its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,099,935 shares of the financial services provider’s stock after selling 29,155 shares during the period. State Street Corp owned 2.52% of Horizon Bancorp worth $17,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HBNC. Quarry LP increased its position in Horizon Bancorp by 508.1% in the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,753 shares during the last quarter. CWM LLC increased its holdings in Horizon Bancorp by 114.2% in the third quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock worth $108,000 after buying an additional 3,709 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Horizon Bancorp by 44.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 2,740 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Horizon Bancorp in the second quarter worth $133,000. Finally, Sanctuary Advisors LLC acquired a new position in Horizon Bancorp during the second quarter worth $150,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a 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 assumed coverage on Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 price objective on the stock.

Horizon Bancorp Stock Up 0.7 %

Shares of NASDAQ HBNC opened at $16.35 on Wednesday. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18. The stock has a market cap of $714.74 million, a PE ratio of 34.79 and a beta of 1.05. The business has a fifty day moving average of $17.25 and a two-hundred day moving average of $15.37. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88.

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

Horizon Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.91%. The ex-dividend date is Friday, January 3rd. Horizon Bancorp’s payout ratio is 136.17%.

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.