Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 29.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,787 shares of the financial services provider’s stock after selling 8,771 shares during the period. Hsbc Holdings PLC’s holdings in Horizon Bancorp were worth $256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC lifted its holdings in Horizon Bancorp by 1,656.2% in the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $40,000 after buying an additional 3,064 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Horizon Bancorp during the first quarter worth about $80,000. Elser Financial Planning Inc acquired a new position in shares of Horizon Bancorp in the second quarter worth about $137,000. EMC Capital Management boosted its holdings in Horizon Bancorp by 11.0% in the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Horizon Bancorp by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,749 shares during the last quarter. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Bancorp Price Performance

Shares of NASDAQ HBNC opened at $14.82 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $653.80 million, a price-to-earnings ratio of 27.44 and a beta of 1.04. Horizon Bancorp, Inc. has a twelve month low of $9.22 and a twelve month high of $16.64. The business has a 50 day simple moving average of $15.29 and a 200-day simple moving average of $13.44.

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 8.17%. The company had revenue of $97.47 million for the quarter, compared to analysts’ expectations of $55.03 million. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, equities research analysts expect that Horizon Bancorp, Inc. will post 1.38 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.32%. Horizon Bancorp’s payout ratio is currently 118.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HBNC shares. Piper Sandler lifted their price objective on Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Hovde Group began coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Horizon Bancorp presently has a consensus rating of “Hold” and an average target price of $16.00.

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.