Horizon Bancorp (IN) $HBNC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 60.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,437 shares of the financial services provider’s stock after selling 32,540 shares during the quarter. Hsbc Holdings PLC’s holdings in Horizon Bancorp (IN) were worth $361,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Horizon Bancorp (IN) by 65.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 660 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 valued at $101,000 after purchasing an additional 4,024 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Horizon Bancorp (IN) during the fourth quarter valued at $124,000. Raymond James Financial Inc. purchased a new stake in shares of Horizon Bancorp (IN) during the second quarter valued at $134,000. Finally, Quadrant Capital Group LLC acquired a new position in shares of Horizon Bancorp (IN) in the 3rd quarter valued at $140,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HBNC has been the topic of a number of analyst reports. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Stephens reiterated an “overweight” rating and issued a $21.00 target price on shares of Horizon Bancorp (IN) in a report on Wednesday, July 1st. Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (down from $22.00) on shares of Horizon Bancorp (IN) in a report on Monday, April 27th. Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

Horizon Bancorp (IN) Stock Performance

Shares of HBNC opened at $20.30 on Friday. The company has a market capitalization of $1.04 billion, a PE ratio of -6.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.91. The company’s 50 day moving average price is $19.12 and its 200 day moving average price is $17.94. Horizon Bancorp has a 52 week low of $14.84 and a 52 week high of $20.66.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%.The business had revenue of $73.48 million during the quarter, compared to analyst estimates of $76.11 million. Research analysts expect that Horizon Bancorp will post 2.09 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 3rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.13%.

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.