Swiss National Bank Sells 900 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Swiss National Bank lessened its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,050 shares of the financial services provider’s stock after selling 900 shares during the quarter. Swiss National Bank owned 0.20% of Horizon Bancorp worth $1,386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HBNC. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Horizon Bancorp during the fourth quarter valued at approximately $602,000. AMG National Trust Bank bought a new position in shares of Horizon Bancorp in the 4th quarter valued at about $161,000. Proficio Capital Partners LLC purchased a new stake in Horizon Bancorp during the 4th quarter valued at $234,000. Charles Schwab Investment Management Inc. raised its position in Horizon Bancorp by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 359,247 shares of the financial services provider’s stock worth $5,787,000 after purchasing an additional 8,266 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Horizon Bancorp by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,233 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Price Performance

NASDAQ:HBNC opened at $15.16 on Friday. The stock has a market capitalization of $667.27 million, a PE ratio of 18.95 and a beta of 1.05. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18. The stock’s 50-day moving average price is $16.40 and its 200-day moving average price is $16.43. 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 (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. As a group, equities analysts expect that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.22%. Horizon Bancorp’s dividend payout ratio is presently 80.00%.

Analyst Ratings Changes

Several brokerages have recently commented on HBNC. Keefe, Bruyette & Woods raised their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, January 27th.

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.