Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,000 shares of the financial services provider’s stock after selling 1,321 shares during the quarter. 1ST Source Bank owned approximately 0.08% of Horizon Bancorp worth $580,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Horizon Bancorp by 362.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,233 shares during the period. Quarry LP raised its stake in shares of Horizon Bancorp by 508.1% during the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,753 shares during the period. R Squared Ltd acquired a new position in shares of Horizon Bancorp during the 4th quarter worth approximately $39,000. POM Investment Strategies LLC acquired a new position in shares of Horizon Bancorp during the 4th quarter worth approximately $92,000. Finally, AMG National Trust Bank acquired a new position in shares of Horizon Bancorp during the 4th quarter worth approximately $161,000. 64.51% of the stock is owned by institutional investors and hedge funds.

Horizon Bancorp Stock Down 0.2 %

NASDAQ HBNC opened at $15.60 on Tuesday. The business has a fifty day moving average price of $16.40 and a 200 day moving average price of $16.46. Horizon Bancorp, Inc. has a one year low of $11.18 and a one year high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $681.95 million, a P/E ratio of 19.50 and a beta of 1.05.

Horizon Bancorp (NASDAQ:HBNC) last posted 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 net margin of 9.86% and a return on equity of 8.48%. Research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 27th.

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.