Indiana Trust & Investment Management CO decreased its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,338 shares of the financial services provider’s stock after selling 2,200 shares during the period. Horizon Bancorp accounts for approximately 0.9% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 25th biggest holding. Indiana Trust & Investment Management CO’s holdings in Horizon Bancorp were worth $1,716,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of Horizon Bancorp in the first quarter valued at approximately $26,000. Squarepoint Ops LLC increased its holdings in shares of Horizon Bancorp by 15.0% in the third quarter. Squarepoint Ops LLC now owns 15,088 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 1,963 shares during the period. Citigroup Inc. grew its holdings in Horizon Bancorp by 188.3% during the fourth quarter. Citigroup Inc. now owns 9,743 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 6,363 shares during the period. SG Americas Securities LLC acquired a new position in Horizon Bancorp during the fourth quarter worth $183,000. Finally, Capital Asset Advisory Services LLC acquired a new position in Horizon Bancorp during the fourth quarter worth $263,000. 51.89% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on HBNC shares. Raymond James upped their price objective on Horizon Bancorp from $14.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, February 1st. Zacks Investment Research lowered Horizon Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday.
In other news, President James D. Neff sold 4,300 shares of the company’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $19.76, for a total value of $84,968.00. Following the sale, the president now directly owns 229,864 shares in the company, valued at $4,542,112.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Craig M. Dwight sold 10,291 shares of the company’s stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $18.50, for a total value of $190,383.50. Insiders sold 124,366 shares of company stock worth $2,437,254 over the last 90 days. Company insiders own 3.40% of the company’s stock.
HBNC traded up $0.01 during trading on Thursday, reaching $18.51. 465 shares of the stock were exchanged, compared to its average volume of 130,470. The business’s 50 day moving average price is $18.71 and its two-hundred day moving average price is $15.43. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $812.94 million, a price-to-earnings ratio of 12.67 and a beta of 1.31. Horizon Bancorp, Inc. has a 1 year low of $7.93 and a 1 year high of $20.17.
Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Tuesday, January 26th. The financial services provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.17. The company had revenue of $63.36 million for the quarter, compared to the consensus estimate of $59.10 million. Horizon Bancorp had a return on equity of 9.84% and a net margin of 25.31%. On average, analysts anticipate that Horizon Bancorp, Inc. will post 1.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 16th. Stockholders of record on Friday, April 2nd will be given a $0.13 dividend. This is an increase from Horizon Bancorp’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, March 31st. Horizon Bancorp’s dividend payout ratio is currently 31.71%.
Horizon Bancorp Company Profile
Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers demand and time deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.
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