Hsbc Holdings PLC Boosts Stake in Horizon Bancorp (IN) $HBNC

Hsbc Holdings PLC boosted its position in Horizon Bancorp (IN) (NASDAQ:HBNC) by 274.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,277 shares of the financial services provider’s stock after purchasing an additional 58,840 shares during the period. Hsbc Holdings PLC owned approximately 0.16% of Horizon Bancorp (IN) worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of HBNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Horizon Bancorp (IN) by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after buying an additional 1,057 shares during the period. Empowered Funds LLC grew its position in Horizon Bancorp (IN) by 28.5% in the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock valued at $2,269,000 after acquiring an additional 33,355 shares during the last quarter. Jane Street Group LLC purchased a new stake in Horizon Bancorp (IN) in the first quarter worth $1,231,000. Rhumbline Advisers lifted its position in shares of Horizon Bancorp (IN) by 3.2% during the second quarter. Rhumbline Advisers now owns 68,401 shares of the financial services provider’s stock worth $1,052,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Horizon Bancorp (IN) during the second quarter worth $816,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC stock opened at $20.36 on Tuesday. The company’s 50 day moving average is $19.40 and its 200 day moving average is $18.08. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -6.44 and a beta of 0.82. Horizon Bancorp has a 52-week low of $14.84 and a 52-week high of $20.66.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.02). Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.52%. The company had revenue of $75.50 million for the quarter, compared to the consensus estimate of $76.56 million. On average, sell-side analysts anticipate that Horizon Bancorp will post 2.09 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.1%. Horizon Bancorp (IN)’s payout ratio is presently -20.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HBNC shares. Wall Street Zen upgraded shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Tuesday. Stephens restated an “overweight” rating and issued a $21.00 target price on shares of Horizon Bancorp (IN) in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods raised their target price on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday. Weiss Ratings downgraded shares of Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $23.00 price target (up from $21.00) on shares of Horizon Bancorp (IN) in a report on Friday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.33.

Horizon Bancorp (IN) Company Profile

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.