Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 341,317 shares of the financial services provider’s stock after purchasing an additional 12,357 shares during the quarter. Bank of New York Mellon Corp’s holdings in Horizon Bancorp were worth $4,222,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CWM LLC raised its stake in shares of Horizon Bancorp by 1,656.2% in the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 3,064 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Horizon Bancorp during the 1st quarter valued at about $80,000. Elser Financial Planning Inc bought a new stake in shares of Horizon Bancorp during the 2nd quarter valued at about $137,000. EMC Capital Management grew its position in shares of Horizon Bancorp by 11.0% during the 1st quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock valued at $138,000 after buying an additional 1,064 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Horizon Bancorp by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,749 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HBNC. Piper Sandler boosted their price objective on shares of Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upped their target price on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, StockNews.com cut shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th.

Horizon Bancorp Trading Up 2.9 %

Shares of NASDAQ:HBNC opened at $15.82 on Friday. Horizon Bancorp, Inc. has a twelve month low of $9.22 and a twelve month high of $16.62. The firm has a market cap of $691.49 million, a P/E ratio of 29.30 and a beta of 1.04. The company has a 50 day moving average of $14.96 and a 200-day moving average of $13.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $97.47 million during the quarter, compared to analyst estimates of $55.03 million. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.17%. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, analysts anticipate that Horizon Bancorp, Inc. will post 1.38 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were issued 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 dividend yield of 4.05%. Horizon Bancorp’s dividend payout ratio is currently 118.52%.

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.