Barclays PLC Increases Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Barclays PLC raised its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 62.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 109,553 shares of the financial services provider’s stock after acquiring an additional 42,218 shares during the period. Barclays PLC owned approximately 0.25% of Horizon Bancorp worth $1,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HBNC. Bank of New York Mellon Corp lifted its position in Horizon Bancorp by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider’s stock valued at $4,222,000 after purchasing an additional 12,357 shares during the period. Rhumbline Advisers raised its stake in shares of Horizon Bancorp by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 68,944 shares of the financial services provider’s stock worth $853,000 after buying an additional 2,120 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Horizon Bancorp by 344.7% in the 2nd quarter. Quest Partners LLC now owns 28,110 shares of the financial services provider’s stock valued at $348,000 after buying an additional 21,789 shares during the period. Federated Hermes Inc. boosted its stake in shares of Horizon Bancorp by 5.8% in the second quarter. Federated Hermes Inc. now owns 58,670 shares of the financial services provider’s stock valued at $726,000 after buying an additional 3,209 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Horizon Bancorp by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after acquiring an additional 135,217 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Trading Down 3.8 %

Shares of HBNC stock opened at $15.00 on Friday. The stock has a market cap of $655.73 million, a P/E ratio of 31.92 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18. The business has a fifty day simple moving average of $17.28 and a 200-day simple moving average of $15.75.

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, beating the consensus estimate of $0.37 by $0.04. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $58.23 million. During the same period last year, the firm posted $0.37 EPS. On average, analysts forecast that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, January 3rd. Horizon Bancorp’s payout ratio is currently 136.17%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Hovde Group started coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.