Harbour Trust & Investment Management Co Reduces Stock Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Harbour Trust & Investment Management Co trimmed its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 15.5% in the 4th quarter, HoldingsChannel reports. The firm owned 339,120 shares of the financial services provider’s stock after selling 62,310 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Horizon Bancorp were worth $5,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its holdings in Horizon Bancorp by 508.1% in the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,753 shares in the last quarter. R Squared Ltd bought a new stake in shares of Horizon Bancorp in the 4th quarter worth approximately $39,000. CWM LLC increased its position in Horizon Bancorp by 114.2% during the 3rd quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock valued at $108,000 after buying an additional 3,709 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Horizon Bancorp during the second quarter valued at $150,000. Finally, Centiva Capital LP bought a new stake in Horizon Bancorp in the third quarter worth $163,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HBNC. Keefe, Bruyette & Woods raised their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Piper Sandler decreased their price objective on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, January 27th.

Horizon Bancorp Stock Down 0.7 %

Shares of Horizon Bancorp stock opened at $17.45 on Monday. The company’s 50 day moving average is $16.61 and its 200 day moving average is $16.19. The company has a market cap of $762.83 million, a price-to-earnings ratio of 21.81 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. Research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s payout ratio is 80.00%.

Horizon Bancorp 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.