Blue Trust Inc. Acquires 67,050 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Blue Trust Inc. boosted its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 88,223.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,126 shares of the financial services provider’s stock after buying an additional 67,050 shares during the period. Blue Trust Inc.’s holdings in Horizon Bancorp were worth $861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HBNC. Federated Hermes Inc. lifted its holdings in Horizon Bancorp by 13.7% in the third quarter. Federated Hermes Inc. now owns 30,953 shares of the financial services provider’s stock valued at $331,000 after buying an additional 3,732 shares during the period. AQR Capital Management LLC lifted its holdings in Horizon Bancorp by 7.6% in the third quarter. AQR Capital Management LLC now owns 634,821 shares of the financial services provider’s stock valued at $6,780,000 after buying an additional 44,810 shares during the period. Axxcess Wealth Management LLC acquired a new position in Horizon Bancorp in the third quarter valued at $166,000. Alps Advisors Inc. acquired a new position in Horizon Bancorp in the third quarter valued at $593,000. Finally, Vanguard Group Inc. lifted its holdings in Horizon Bancorp by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider’s stock valued at $23,325,000 after buying an additional 34,861 shares during the period. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp Stock Down 2.2 %

Shares of NASDAQ HBNC traded down $0.27 during trading on Friday, hitting $11.89. 124,609 shares of the company traded hands, compared to its average volume of 181,892. The business’s fifty day moving average is $12.13 and its 200 day moving average is $12.52. Horizon Bancorp, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $14.71. The firm has a market capitalization of $524.59 million, a price-to-earnings ratio of 22.02 and a beta of 1.05. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.87 and a current ratio of 0.87.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. Horizon Bancorp had a net margin of 7.02% and a return on equity of 8.71%. The firm had revenue of $53.22 million for the quarter, compared to analyst estimates of $53.90 million. Equities research analysts predict that Horizon Bancorp, Inc. will post 1.31 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.38%. The ex-dividend date is Friday, July 5th. Horizon Bancorp’s payout ratio is presently 118.52%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Piper Sandler dropped their price objective on shares of Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, April 29th.

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.