LSV Asset Management Cuts Stock Position in Horizon Bancorp (IN) $HBNC

LSV Asset Management lessened its holdings in Horizon Bancorp (IN) (NASDAQ:HBNC) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 704,573 shares of the financial services provider’s stock after selling 7,300 shares during the period. LSV Asset Management owned approximately 1.60% of Horizon Bancorp (IN) worth $10,836,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Horizon Bancorp (IN) in the 1st quarter valued at about $995,000. Nuveen LLC purchased a new position in Horizon Bancorp (IN) during the 1st quarter valued at $5,296,000. Vanguard Group Inc. grew its stake in Horizon Bancorp (IN) by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 2,594,577 shares of the financial services provider’s stock worth $39,126,000 after acquiring an additional 142,298 shares in the last quarter. Strs Ohio purchased a new stake in shares of Horizon Bancorp (IN) in the 1st quarter worth $552,000. Finally, EJF Capital LLC lifted its position in shares of Horizon Bancorp (IN) by 27.2% in the 1st quarter. EJF Capital LLC now owns 116,064 shares of the financial services provider’s stock worth $1,750,000 after purchasing an additional 24,826 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

NASDAQ HBNC opened at $15.74 on Thursday. The stock has a market cap of $806.16 million, a PE ratio of -4.01 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. Horizon Bancorp has a twelve month low of $12.70 and a twelve month high of $19.18. The stock has a fifty day simple moving average of $15.96 and a 200-day simple moving average of $15.71.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.16). Horizon Bancorp (IN) had a negative net margin of 51.01% and a positive return on equity of 9.64%. The company had revenue of $59.98 million during the quarter, compared to analysts’ expectations of $69.34 million. Equities analysts anticipate that Horizon Bancorp will post 1.78 earnings per share for the current year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, October 3rd. Horizon Bancorp (IN)’s dividend payout ratio is currently -16.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HBNC. Wall Street Zen downgraded Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Stephens upped their price target on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research report on Monday. Piper Sandler increased their price target on Horizon Bancorp (IN) from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Finally, Zacks Research raised shares of Horizon Bancorp (IN) from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Horizon Bancorp (IN) Company Profile

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.