6,216 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC acquired a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,216 shares of the financial services provider’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Horizon Bancorp by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider’s stock worth $23,325,000 after acquiring an additional 34,861 shares during the last quarter. Sapient Capital LLC acquired a new stake in Horizon Bancorp during the 4th quarter worth approximately $29,765,000. Dimensional Fund Advisors LP raised its holdings in Horizon Bancorp by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,955,694 shares of the financial services provider’s stock worth $27,987,000 after buying an additional 94,332 shares during the period. PL Capital Advisors LLC raised its holdings in Horizon Bancorp by 6.8% during the 1st quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider’s stock worth $20,825,000 after buying an additional 103,084 shares during the period. Finally, LSV Asset Management raised its holdings in Horizon Bancorp by 6.7% during the 1st quarter. LSV Asset Management now owns 557,373 shares of the financial services provider’s stock worth $7,151,000 after buying an additional 34,958 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp Stock Down 2.8 %

HBNC traded down $0.43 during trading on Friday, reaching $14.68. 187,072 shares of the stock were exchanged, compared to its average volume of 226,161. The stock has a market cap of $647.68 million, a P/E ratio of 27.19 and a beta of 1.05. Horizon Bancorp, Inc. has a twelve month low of $9.22 and a twelve month high of $16.62. The stock’s 50 day moving average price is $13.03 and its two-hundred day moving average price is $12.61. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.87 and a current ratio of 0.87.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.21%. The business had revenue of $97.47 million for the quarter, compared to the consensus estimate of $55.03 million. During the same period in the previous year, the company earned $0.41 earnings per share. Equities analysts expect that Horizon Bancorp, Inc. will post 1.36 EPS for the current year.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a dividend of $0.16 per share. The ex-dividend date was Friday, July 5th. This represents a $0.64 dividend on an annualized basis and a yield of 4.36%. Horizon Bancorp’s dividend payout ratio (DPR) is 118.52%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Keefe, Bruyette & Woods lifted their price objective on shares of Horizon Bancorp from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, Piper Sandler lifted their price objective on shares of Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 29th.

Horizon Bancorp 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.