StockNews.com Downgrades Horizon Bancorp (NASDAQ:HBNC) to Sell

StockNews.com downgraded shares of Horizon Bancorp (NASDAQ:HBNC) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Separately, Piper Sandler lowered their target price on shares of Horizon Bancorp from $14.00 to $13.00 and set a neutral rating on the stock in a report on Monday, April 29th.

Horizon Bancorp Trading Down 0.3 %

HBNC stock opened at $12.41 on Tuesday. Horizon Bancorp has a 52 week low of $7.69 and a 52 week high of $14.71. The company has a market capitalization of $547.41 million, a PE ratio of 22.98 and a beta of 1.04. The company’s 50-day simple moving average is $12.07 and its 200 day simple moving average is $12.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.70 and a current ratio of 0.70.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 118.52%.

Institutional Investors Weigh In On Horizon Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Sapient Capital LLC acquired a new position in shares of Horizon Bancorp in the 4th quarter valued at approximately $29,765,000. Harbour Trust & Investment Management Co bought a new stake in Horizon Bancorp during the fourth quarter worth $6,167,000. PL Capital Advisors LLC boosted its holdings in shares of Horizon Bancorp by 6.8% in the 1st quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider’s stock valued at $20,825,000 after purchasing an additional 103,084 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in shares of Horizon Bancorp by 31.5% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 394,602 shares of the financial services provider’s stock valued at $4,214,000 after purchasing an additional 94,581 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Horizon Bancorp by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,955,694 shares of the financial services provider’s stock valued at $27,987,000 after purchasing an additional 94,332 shares during the last quarter. Institutional investors own 64.51% of the company’s stock.

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.