Horizon Bancorp (NASDAQ:HBNC) Shares Gap Down – Time to Sell?

Horizon Bancorp, Inc. (NASDAQ:HBNC)’s share price gapped down prior to trading on Friday . The stock had previously closed at $17.33, but opened at $16.90. Horizon Bancorp shares last traded at $17.36, with a volume of 15,413 shares traded.

Analyst Ratings Changes

HBNC has been the subject of a number of analyst reports. StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods increased their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler decreased their price objective on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th.

Horizon Bancorp Stock Performance

The business has a fifty day moving average of $16.54 and a 200 day moving average of $16.24. The company has a market cap of $751.98 million, a P/E ratio of 21.50 and a beta of 1.07. 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 issued its quarterly earnings data 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%. On average, equities analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.64 annualized dividend and a yield of 3.72%. Horizon Bancorp’s payout ratio is 80.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AMI Investment Management Inc. grew its stake in Horizon Bancorp by 10.2% in the fourth quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,109 shares during the period. Jones Financial Companies Lllp grew its position in shares of Horizon Bancorp by 362.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,233 shares during the period. Quarry LP increased its stake in shares of Horizon Bancorp by 64.4% in the 4th quarter. Quarry LP now owns 3,450 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,352 shares in the last quarter. Meritage Portfolio Management lifted its position in Horizon Bancorp by 9.1% during the 3rd quarter. Meritage Portfolio Management now owns 19,796 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 1,658 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Horizon Bancorp by 7.0% during the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 1,703 shares in 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.