Blue Trust Inc. Sells 10,439 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Blue Trust Inc. reduced its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 15.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 56,687 shares of the financial services provider’s stock after selling 10,439 shares during the quarter. Blue Trust Inc.’s holdings in Horizon Bancorp were worth $913,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Horizon Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after buying an additional 52,423 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Horizon Bancorp by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock valued at $5,458,000 after purchasing an additional 22,727 shares in the last quarter. Foundry Partners LLC boosted its stake in shares of Horizon Bancorp by 46.0% in the 3rd quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock valued at $2,824,000 after purchasing an additional 57,240 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Horizon Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 117,080 shares of the financial services provider’s stock valued at $1,886,000 after purchasing an additional 5,686 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Horizon Bancorp by 62.7% in the 3rd quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock valued at $1,704,000 after purchasing an additional 42,218 shares in the last quarter. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp Stock Down 0.8 %

NASDAQ:HBNC opened at $17.20 on Monday. The firm’s 50 day simple moving average is $16.54 and its 200 day simple moving average is $16.24. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. Horizon Bancorp, Inc. has a one year low of $11.18 and a one year high of $19.18. The company has a market cap of $751.98 million, a PE ratio of 21.50 and a beta of 1.07.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 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, research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s dividend payout ratio is currently 80.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of 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 on the stock in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note 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.