B.O.S.S. Retirement Advisors LLC Takes $518,000 Position in Horizon Bancorp (IN) $HBNC

B.O.S.S. Retirement Advisors LLC bought a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC) in the first quarter, HoldingsChannel.com reports. The fund bought 31,276 shares of the financial services provider’s stock, valued at approximately $518,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Horizon Bancorp (IN) by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock valued at $54,093,000 after purchasing an additional 176,448 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Horizon Bancorp (IN) by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock valued at $41,116,000 after purchasing an additional 75,462 shares during the last quarter. PL Capital Advisors LLC grew its stake in shares of Horizon Bancorp (IN) by 7.2% in the 4th quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock worth $30,746,000 after buying an additional 121,651 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Horizon Bancorp (IN) in the 3rd quarter worth $24,842,000. Finally, State Street Corp increased its holdings in shares of Horizon Bancorp (IN) by 19.9% in the 4th quarter. State Street Corp now owns 1,480,580 shares of the financial services provider’s stock worth $25,111,000 after buying an additional 245,416 shares during the last quarter. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp (IN) Stock Performance

HBNC stock opened at $19.78 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Horizon Bancorp has a twelve month low of $14.84 and a twelve month high of $20.50. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.22 and a beta of 0.82. The firm’s fifty day simple moving average is $18.80 and its two-hundred day simple moving average is $17.81.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $73.48 million for the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a negative net margin of 37.28% and a positive return on equity of 12.41%. As a group, analysts anticipate that Horizon Bancorp will post 2.1 earnings per share for the current year.

Horizon Bancorp (IN) Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, July 2nd. Horizon Bancorp (IN)’s dividend payout ratio is presently -20.13%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Wall Street Zen lowered Horizon Bancorp (IN) from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Piper Sandler reissued a “neutral” rating and set a $21.00 price objective (down from $22.00) on shares of Horizon Bancorp (IN) in a research note on Monday, April 27th. Zacks Research raised Horizon Bancorp (IN) from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Stephens restated an “overweight” rating and set a $21.00 price objective on shares of Horizon Bancorp (IN) in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and three have assigned 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) Company Profile

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.