Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Northern Trust Corp

Northern Trust Corp lowered its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 493,300 shares of the financial services provider’s stock after selling 9,844 shares during the quarter. Northern Trust Corp’s holdings in Horizon Bancorp were worth $7,947,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in HBNC. JPMorgan Chase & Co. boosted its stake in shares of Horizon Bancorp by 37.4% during the third quarter. JPMorgan Chase & Co. now owns 106,609 shares of the financial services provider’s stock valued at $1,658,000 after acquiring an additional 28,999 shares during the last quarter. AMI Investment Management Inc. boosted its stake in shares of Horizon Bancorp by 10.2% during the fourth quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 1,109 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Horizon Bancorp by 25.5% during the fourth quarter. SG Americas Securities LLC now owns 27,055 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 5,499 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Horizon Bancorp during the fourth quarter valued at $39,000. Finally, Meritage Portfolio Management boosted its stake in shares of Horizon Bancorp by 12.4% during the fourth quarter. Meritage Portfolio Management now owns 22,260 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 2,464 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp Stock Down 0.5%

Shares of NASDAQ:HBNC opened at $15.80 on Monday. The stock’s 50-day moving average price is $14.67 and its two-hundred day moving average price is $16.16. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a 12-month low of $11.46 and a 12-month high of $19.18. The firm has a market cap of $695.44 million, a price-to-earnings ratio of 19.75 and a beta of 0.82.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. The firm had revenue of $69.17 million for the quarter, compared to analyst estimates of $64.52 million. On average, research analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Friday, April 4th. Horizon Bancorp’s payout ratio is 62.75%.

Analysts Set New Price Targets

A number of analysts recently commented on HBNC shares. Keefe, Bruyette & Woods decreased their price objective on Horizon Bancorp from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Friday, April 25th. Piper Sandler decreased their price target on Horizon Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th.

About Horizon Bancorp

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.