Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 88,223.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,126 shares of the financial services provider’s stock after acquiring an additional 67,050 shares during the quarter. Blue Trust Inc. owned approximately 0.15% of Horizon Bancorp worth $861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HBNC. Federated Hermes Inc. grew its holdings in shares of Horizon Bancorp by 13.7% during the third quarter. Federated Hermes Inc. now owns 30,953 shares of the financial services provider’s stock valued at $331,000 after buying an additional 3,732 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Horizon Bancorp by 7.6% during the third quarter. AQR Capital Management LLC now owns 634,821 shares of the financial services provider’s stock valued at $6,780,000 after buying an additional 44,810 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Horizon Bancorp during the third quarter valued at $166,000. Alps Advisors Inc. purchased a new position in Horizon Bancorp in the third quarter valued at about $593,000. Finally, Vanguard Group Inc. grew its stake in Horizon Bancorp by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider’s stock valued at $23,325,000 after purchasing an additional 34,861 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Stock Down 2.2 %

Shares of NASDAQ:HBNC traded down $0.27 on Friday, reaching $11.89. The company had a trading volume of 124,609 shares, compared to its average volume of 181,892. Horizon Bancorp, Inc. has a twelve month low of $9.22 and a twelve month high of $14.71. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $524.59 million, a P/E ratio of 22.02 and a beta of 1.05. The stock has a 50-day moving average price of $12.13 and a 200 day moving average price of $12.52.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. Horizon Bancorp had a return on equity of 8.71% and a net margin of 7.02%. The business had revenue of $53.22 million during the quarter, compared to analysts’ expectations of $53.90 million. On average, equities analysts expect that Horizon Bancorp, Inc. will post 1.31 EPS for the current year.

Horizon Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, July 5th. This represents a $0.64 annualized dividend and a dividend yield of 5.38%. Horizon Bancorp’s dividend payout ratio is presently 118.52%.

Analyst Ratings Changes

HBNC has been the topic of a number of recent research reports. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Piper Sandler lowered their target price on Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th.

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.