Horizon Bancorp (IN) $HBNC Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in Horizon Bancorp (IN) (NASDAQ:HBNC) by 36.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,221 shares of the financial services provider’s stock after selling 11,175 shares during the quarter. Intech Investment Management LLC’s holdings in Horizon Bancorp (IN) were worth $296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Federated Hermes Inc. increased its stake in Horizon Bancorp (IN) by 4.8% during the 1st quarter. Federated Hermes Inc. now owns 61,526 shares of the financial services provider’s stock worth $928,000 after buying an additional 2,794 shares during the period. LSV Asset Management grew its stake in shares of Horizon Bancorp (IN) by 15.9% during the first quarter. LSV Asset Management now owns 711,873 shares of the financial services provider’s stock valued at $10,735,000 after acquiring an additional 97,818 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Horizon Bancorp (IN) by 5.8% during the first quarter. Vanguard Group Inc. now owns 2,594,577 shares of the financial services provider’s stock worth $39,126,000 after acquiring an additional 142,298 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Horizon Bancorp (IN) by 82.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,290 shares of the financial services provider’s stock worth $1,030,000 after acquiring an additional 30,933 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Horizon Bancorp (IN) in the first quarter worth about $5,296,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Trading Down 0.5%

Shares of NASDAQ:HBNC opened at $17.15 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $878.12 million, a price-to-earnings ratio of -4.36 and a beta of 0.90. Horizon Bancorp has a 1-year low of $12.70 and a 1-year high of $18.69. The company has a 50 day moving average price of $16.01 and a 200 day moving average price of $15.78.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). The company had revenue of $59.98 million for the quarter, compared to analyst estimates of $69.34 million. Horizon Bancorp (IN) had a negative net margin of 51.01% and a positive return on equity of 9.64%. On average, research analysts anticipate that Horizon Bancorp will post 1.78 EPS for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a $0.16 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.7%. Horizon Bancorp (IN)’s dividend payout ratio (DPR) is -16.28%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HBNC. Keefe, Bruyette & Woods raised shares of Horizon Bancorp (IN) from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $19.00 in a research report on Tuesday, August 26th. Stephens boosted their price objective on Horizon Bancorp (IN) from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, November 24th. Finally, Zacks Research upgraded Horizon Bancorp (IN) from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Horizon Bancorp (IN) presently has an average rating of “Moderate Buy” and a consensus target price of $19.67.

About Horizon Bancorp (IN)

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.