Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Bought by Creative Planning

Creative Planning lifted its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 8.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 55,679 shares of the financial services provider’s stock after purchasing an additional 4,155 shares during the period. Creative Planning’s holdings in Horizon Bancorp were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of HBNC. EMC Capital Management grew its holdings in 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. Price T Rowe Associates Inc. MD lifted its position in shares of 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 acquiring an additional 1,749 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Horizon Bancorp by 3.2% during the second quarter. Rhumbline Advisers now owns 68,944 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 2,120 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Horizon Bancorp by 44.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 2,740 shares in the last quarter. Finally, CWM LLC raised its stake 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 valued at $40,000 after purchasing an additional 3,064 shares during the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBNC has been the subject of several recent analyst reports. Piper Sandler lifted their target price on shares of Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. StockNews.com upgraded Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Hovde Group initiated coverage on Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their price target on Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Horizon Bancorp Price Performance

Shares of HBNC opened at $16.11 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $704.17 million, a P/E ratio of 34.28 and a beta of 1.03. Horizon Bancorp, Inc. has a 12 month low of $9.51 and a 12 month high of $16.72. The stock has a fifty day moving average price of $15.57 and a 200 day moving average price of $13.93.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.36% and a net margin of 5.89%. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $58.23 million. During the same period last year, the company earned $0.37 earnings per share. On average, research analysts forecast that Horizon Bancorp, Inc. will post 1.41 earnings per share for the current year.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.64 dividend on an annualized basis and a yield of 3.97%. Horizon Bancorp’s dividend payout ratio is currently 136.17%.

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.