Horizon Bancorp (IN) to Issue Quarterly Dividend of $0.16 (NASDAQ:HBNC)

Horizon Bancorp (IN) (NASDAQ:HBNC) declared a quarterly dividend on Tuesday, June 16th. Investors of record on Friday, July 3rd will be given a dividend of 0.16 per share by the financial services provider on Friday, July 17th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, July 2nd.

Horizon Bancorp (IN) has raised its dividend payment by an average of 0.1%annually over the last three years. Horizon Bancorp (IN) has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Horizon Bancorp (IN) to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 28.8%.

Horizon Bancorp (IN) Price Performance

HBNC traded down $0.07 during trading on Wednesday, reaching $19.36. The stock had a trading volume of 166,950 shares, compared to its average volume of 360,492. The stock has a market cap of $993.59 million, a PE ratio of -6.09 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.91. Horizon Bancorp has a one year low of $14.34 and a one year high of $19.93. The business has a 50-day moving average of $18.23 and a 200-day moving average of $17.61.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $73.48 million for the quarter, compared to analysts’ expectations 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 anticipate that Horizon Bancorp will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bayview Asset Management LLC grew its holdings in shares of Horizon Bancorp (IN) by 0.7% in the fourth quarter. Bayview Asset Management LLC now owns 95,462 shares of the financial services provider’s stock worth $1,619,000 after purchasing an additional 645 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Horizon Bancorp (IN) by 65.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Horizon Bancorp (IN) by 3.9% in the second 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. grew 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 purchasing an additional 1,057 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Horizon Bancorp (IN) by 2.4% in the fourth 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. Institutional investors own 64.51% of the company’s stock.

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.