Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 273,189 shares of the financial services provider’s stock after selling 33,094 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of Horizon Bancorp worth $4,401,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HBNC. Foundry Partners LLC grew its holdings in Horizon Bancorp by 46.0% during the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock worth $2,824,000 after acquiring an additional 57,240 shares during the period. Geode Capital Management LLC increased its holdings in shares of Horizon Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after purchasing an additional 52,423 shares in the last quarter. Barclays PLC increased its holdings in shares of Horizon Bancorp by 62.7% in the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock valued at $1,704,000 after purchasing an additional 42,218 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Horizon Bancorp by 37.4% in the third quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 28,999 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Horizon Bancorp by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock worth $5,458,000 after buying an additional 22,727 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBNC. Piper Sandler reduced their price target on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price objective 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.

Horizon Bancorp Trading Up 0.6 %

NASDAQ HBNC opened at $15.70 on Wednesday. The company has a market cap of $686.33 million, a P/E ratio of 19.63 and a beta of 1.05. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The company has a 50-day moving average of $16.41 and a 200-day moving average of $16.46.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 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 predict that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

About Horizon Bancorp

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.