Indiana Trust & Investment Management Co Trims Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Indiana Trust & Investment Management Co lessened its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 27.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,638 shares of the financial services provider’s stock after selling 21,000 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Horizon Bancorp were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC bought a new stake in shares of Horizon Bancorp in the fourth quarter worth about $92,000. Empowered Funds LLC boosted its position in Horizon Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 117,080 shares of the financial services provider’s stock valued at $1,886,000 after acquiring an additional 5,686 shares in the last quarter. Meritage Portfolio Management increased its position in Horizon Bancorp by 12.4% during the 4th quarter. Meritage Portfolio Management now owns 22,260 shares of the financial services provider’s stock valued at $359,000 after buying an additional 2,464 shares in the last quarter. R Squared Ltd purchased a new stake in Horizon Bancorp in the fourth quarter valued at approximately $39,000. Finally, SG Americas Securities LLC lifted its holdings in Horizon Bancorp by 25.5% in the fourth quarter. SG Americas Securities LLC now owns 27,055 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 5,499 shares during the period. Institutional investors own 64.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HBNC shares. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods raised their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler lowered their target price on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, January 27th.

Horizon Bancorp Price Performance

Horizon Bancorp stock opened at $17.76 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm’s 50-day simple moving average is $16.59 and its 200 day simple moving average is $16.21. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18. The firm has a market capitalization of $776.47 million, a PE ratio of 22.20 and a beta of 1.07.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, equities research analysts predict that Horizon Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a $0.16 dividend. The ex-dividend date was Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.60%. Horizon Bancorp’s dividend payout ratio (DPR) is 80.00%.

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.