State Street Corp Has $17.10 Million Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

State Street Corp cut its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,099,935 shares of the financial services provider’s stock after selling 29,155 shares during the quarter. State Street Corp’s holdings in Horizon Bancorp were worth $17,104,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HBNC. Dimensional Fund Advisors LP increased its holdings in Horizon Bancorp by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after buying an additional 135,217 shares during the last quarter. AQR Capital Management LLC raised its stake in Horizon Bancorp by 11.9% in the second quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after buying an additional 50,666 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Horizon Bancorp by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock valued at $5,458,000 after buying an additional 22,727 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Horizon Bancorp by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider’s stock worth $4,222,000 after acquiring an additional 12,357 shares during the period. Finally, Foundry Partners LLC increased its holdings in shares of Horizon Bancorp by 46.0% during the 3rd quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock worth $2,824,000 after acquiring an additional 57,240 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HBNC shares. Keefe, Bruyette & Woods boosted their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Hovde Group started coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They set an “outperform” rating and a $18.00 price target on the stock.

Horizon Bancorp Stock Performance

NASDAQ HBNC opened at $16.35 on Wednesday. The firm’s fifty day moving average price is $17.25 and its two-hundred day moving average price is $15.37. The stock has a market cap of $714.74 million, a PE ratio of 34.79 and a beta of 1.05. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp, Inc. has a fifty-two week low of $11.18 and a fifty-two week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. The business had revenue of $102.40 million during the quarter, compared to analyst estimates of $58.23 million. During the same quarter last year, the business earned $0.37 EPS. On average, equities analysts expect that Horizon Bancorp, Inc. will post 1.4 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 3.91%. Horizon Bancorp’s payout ratio is currently 136.17%.

Horizon Bancorp Company 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.