Indiana Trust & Investment Management Co Sells 21,000 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Indiana Trust & Investment Management Co trimmed its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 27.4% during the fourth quarter, according to its most recent 13F 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 owned 0.13% of Horizon Bancorp worth $896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in Horizon Bancorp in the 2nd quarter worth about $150,000. SG Americas Securities LLC boosted its stake in shares of Horizon Bancorp by 34.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,556 shares of the financial services provider’s stock worth $335,000 after buying an additional 5,544 shares during the last quarter. CWM LLC grew its holdings in shares of Horizon Bancorp by 114.2% in the third quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 3,709 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Horizon Bancorp during the third quarter valued at approximately $414,000. Finally, Creative Planning lifted its holdings in Horizon Bancorp by 8.1% during the third quarter. Creative Planning now owns 55,679 shares of the financial services provider’s stock worth $866,000 after acquiring an additional 4,155 shares during the period. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp Stock Performance

NASDAQ:HBNC opened at $17.76 on Wednesday. The company has a market capitalization of $776.47 million, a P/E ratio of 22.20 and a beta of 1.07. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day simple moving average of $16.59 and a two-hundred day simple moving average of $16.21. Horizon Bancorp, Inc. has a 1 year low of $11.18 and a 1 year high of $19.18.

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

Horizon Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on HBNC. Keefe, Bruyette & Woods upped their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price target on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st.

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.