Bank of New York Mellon Corp raised its position in shares of Horizon Bancorp (NASDAQ:HBNC) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,540 shares of the financial services provider’s stock after buying an additional 520 shares during the period. Bank of New York Mellon Corp owned approximately 0.39% of Horizon Bancorp worth $1,245,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in HBNC. Metropolitan Life Insurance Co. NY boosted its stake in shares of Horizon Bancorp by 5.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 8,808 shares of the financial services provider’s stock worth $218,000 after buying an additional 483 shares during the period. Sabal Trust CO boosted its stake in shares of Horizon Bancorp by 1.5% in the second quarter. Sabal Trust CO now owns 10,822 shares of the financial services provider’s stock worth $272,000 after buying an additional 164 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Horizon Bancorp during the second quarter worth about $1,302,000. Geode Capital Management LLC boosted its stake in shares of Horizon Bancorp by 1.3% in the first quarter. Geode Capital Management LLC now owns 61,238 shares of the financial services provider’s stock worth $1,513,000 after buying an additional 760 shares during the period. Finally, Foundry Partners LLC boosted its stake in shares of Horizon Bancorp by 0.3% in the second quarter. Foundry Partners LLC now owns 115,920 shares of the financial services provider’s stock worth $2,914,000 after buying an additional 375 shares during the period. 36.09% of the stock is owned by institutional investors.
Shares of Horizon Bancorp (NASDAQ:HBNC) traded down 1.5448% on Thursday, reaching $29.3495. 8,943 shares of the company’s stock traded hands. The stock has a 50-day moving average of $28.72 and a 200 day moving average of $26.18. The firm has a market cap of $433.67 million, a P/E ratio of 16.0467 and a beta of 0.49. Horizon Bancorp has a 12-month low of $21.92 and a 12-month high of $30.40.
Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. Horizon Bancorp had a net margin of 17.13% and a return on equity of 9.48%. On average, equities research analysts expect that Horizon Bancorp will post $2.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, October 5th. Horizon Bancorp’s payout ratio is currently 32.79%.
A number of brokerages have recently issued reports on HBNC. Keefe, Bruyette & Woods upped their price objective on shares of Horizon Bancorp from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Zacks Investment Research upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Piper Jaffray Cos. assumed coverage on shares of Horizon Bancorp in a report on Thursday, October 6th. They set an “overweight” rating and a $33.50 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.13.
In other news, insider Thomas H. Edwards sold 10,000 shares of Horizon Bancorp stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $27.65, for a total transaction of $276,500.00. Following the sale, the insider now owns 10,097 shares in the company, valued at $279,182.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 7.70% of the company’s stock.
Horizon Bancorp Company Profile
Horizon Bancorp is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking.
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