Ieq Capital LLC Acquires New Shares in Horizon Bancorp (IN) $HBNC

Ieq Capital LLC bought a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,697 shares of the financial services provider’s stock, valued at approximately $673,000. Ieq Capital LLC owned about 0.07% of Horizon Bancorp (IN) as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in Horizon Bancorp (IN) during the second quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its holdings in Horizon Bancorp (IN) by 65.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 660 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Horizon Bancorp (IN) by 93.5% in the 1st quarter. Royal Bank of Canada now owns 2,873 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,388 shares in the last quarter. Tower Research Capital LLC TRC grew 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 last quarter. Finally, Rossby Financial LCC acquired a new stake in Horizon Bancorp (IN) in the 4th quarter valued at about $124,000. Institutional investors own 64.51% of the company’s stock.

Insider Buying and Selling

In other Horizon Bancorp (IN) news, EVP Kathie A. Deruiter sold 8,000 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $20.19, for a total transaction of $161,520.00. Following the completion of the sale, the executive vice president owned 50,346 shares of the company’s stock, valued at approximately $1,016,485.74. This represents a 13.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.19% of the stock is owned by insiders.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC stock opened at $19.56 on Friday. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -6.19 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $20.07 and its 200-day moving average price is $18.52. Horizon Bancorp has a 12 month low of $14.97 and a 12 month high of $21.04.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). The business had revenue of $75.50 million during the quarter, compared to the consensus estimate of $76.56 million. Horizon Bancorp (IN) had a positive return on equity of 13.31% and a negative net margin of 36.38%. Equities research analysts forecast that Horizon Bancorp will post 2.07 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, July 2nd. Horizon Bancorp (IN)’s payout ratio is currently -20.25%.

Analyst Ratings Changes

HBNC has been the topic of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $23.00 target price (up from $21.00) on shares of Horizon Bancorp (IN) in a research note on Friday, July 24th. Stephens reissued an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research report on Wednesday, July 1st. Weiss Ratings lowered Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research note on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Horizon Bancorp (IN) currently has a consensus rating of “Hold” and a consensus price target of $22.33.

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.