Harbour Trust & Investment Management Co Boosts Stock Position in Horizon Bancorp (IN) $HBNC

Harbour Trust & Investment Management Co lifted its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,569 shares of the financial services provider’s stock after purchasing an additional 14,134 shares during the period. Harbour Trust & Investment Management Co’s holdings in Horizon Bancorp (IN) were worth $5,053,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CX Institutional purchased a new stake in shares of Horizon Bancorp (IN) during the first quarter worth about $153,000. Quantbot Technologies LP boosted its holdings in shares of Horizon Bancorp (IN) by 49.0% during the first quarter. Quantbot Technologies LP now owns 13,046 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 4,293 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Horizon Bancorp (IN) during the first quarter worth about $198,000. EP Wealth Advisors LLC boosted its holdings in shares of Horizon Bancorp (IN) by 42.3% during the first quarter. EP Wealth Advisors LLC now owns 14,295 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 4,246 shares during the period. Finally, Lauer Wealth LLC purchased a new stake in shares of Horizon Bancorp (IN) during the first quarter worth about $227,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Piper Sandler increased their price target on shares of Horizon Bancorp (IN) from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods raised shares of Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $19.00 in a research note on Tuesday, August 26th. Stephens increased their price target on shares of Horizon Bancorp (IN) from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Horizon Bancorp (IN) in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Horizon Bancorp (IN) presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Horizon Bancorp (IN) Price Performance

HBNC stock opened at $15.26 on Tuesday. Horizon Bancorp has a 1 year low of $12.70 and a 1 year high of $19.18. The company has a market cap of $672.97 million, a P/E ratio of 13.04 and a beta of 0.81. The firm has a 50-day moving average of $16.10 and a 200 day moving average of $15.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.76 and a quick ratio of 0.76.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. Horizon Bancorp (IN) had a net margin of 13.84% and a return on equity of 10.21%. The business had revenue of $66.27 million during the quarter, compared to the consensus estimate of $66.45 million. On average, sell-side analysts forecast that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.2%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is currently 54.70%.

Horizon Bancorp (IN) 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.