Vanguard Group Inc. Has $54.09 Million Stock Position in Horizon Bancorp (IN) $HBNC

Vanguard Group Inc. boosted its holdings in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,189,417 shares of the financial services provider’s stock after buying an additional 176,448 shares during the period. Vanguard Group Inc. owned approximately 6.23% of Horizon Bancorp (IN) worth $54,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Rafferty Asset Management LLC increased its position in Horizon Bancorp (IN) by 3.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 24,844 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 941 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Horizon Bancorp (IN) by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 1,057 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Horizon Bancorp (IN) by 2.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 50,097 shares of the financial services provider’s stock worth $850,000 after purchasing an additional 1,193 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Horizon Bancorp (IN) by 11.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,525 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Horizon Bancorp (IN) by 8.2% in the 3rd quarter. Intech Investment Management LLC now owns 20,790 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 1,569 shares during the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HBNC has been the topic of several research reports. Wall Street Zen raised Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a research report on Monday, April 27th. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Keefe, Bruyette & Woods upped their target price on Horizon Bancorp (IN) from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, Stephens initiated coverage on Horizon Bancorp (IN) in a research report on Friday, March 27th. They issued an “overweight” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.67.

Horizon Bancorp (IN) Stock Performance

HBNC opened at $17.60 on Friday. The company has a market cap of $903.41 million, a PE ratio of -5.53 and a beta of 0.83. The stock has a 50-day moving average of $17.14 and a 200-day moving average of $17.19. Horizon Bancorp has a 52-week low of $14.34 and a 52-week high of $19.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.91.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $73.48 million during the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%. As a group, equities research analysts forecast that Horizon Bancorp will post 2.1 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, April 3rd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, April 2nd. Horizon Bancorp (IN)’s dividend payout ratio is -20.13%.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.