Horizon Bancorp (IN) (NASDAQ:HBNC) Short Interest Update

Horizon Bancorp (IN) (NASDAQ:HBNC) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 697,300 shares, an increase of 49.2% from the September 15th total of 467,400 shares. Based on an average daily volume of 346,700 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 346,700 shares, the short-interest ratio is presently 2.0 days.

Horizon Bancorp (IN) Stock Up 1.5%

NASDAQ:HBNC opened at $15.96 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $813.48 million, a price-to-earnings ratio of 13.64 and a beta of 0.81. Horizon Bancorp has a one year low of $12.70 and a one year high of $19.18. The stock has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $15.40.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). Horizon Bancorp (IN) had a return on equity of 10.21% and a net margin of 13.84%. Sell-side analysts predict that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.64 annualized dividend and a yield of 4.0%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is 54.70%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HBNC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Horizon Bancorp (IN) in a research note on Wednesday, October 8th. Piper Sandler upped their price objective on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods raised Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $19.00 in a research report on Tuesday, August 26th. Wall Street Zen downgraded Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Stephens raised their price objective on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Horizon Bancorp (IN) presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Institutional Trading of Horizon Bancorp (IN)

Several institutional investors have recently added to or reduced their stakes in HBNC. Tower Research Capital LLC TRC raised its holdings in shares of Horizon Bancorp (IN) by 160.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 4,024 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Horizon Bancorp (IN) during the 2nd quarter valued at about $134,000. AlphaQuest LLC raised its stake in Horizon Bancorp (IN) by 394.0% during the second quarter. AlphaQuest LLC now owns 12,260 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 9,778 shares during the period. Quantbot Technologies LP raised its stake in Horizon Bancorp (IN) by 49.0% during the first quarter. Quantbot Technologies LP now owns 13,046 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 4,293 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Horizon Bancorp (IN) in the first quarter worth about $198,000. Institutional investors own 64.51% of the company’s stock.

About Horizon Bancorp (IN)

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.