Foundry Partners LLC Cuts Stake in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Foundry Partners LLC trimmed its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,553 shares of the financial services provider’s stock after selling 1,335 shares during the quarter. Foundry Partners LLC owned 0.17% of Horizon Bancorp worth $1,067,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. EMC Capital Management boosted its position in shares of Horizon Bancorp by 15.0% during the third quarter. EMC Capital Management now owns 9,709 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,267 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Horizon Bancorp by 13.6% during the third quarter. Gamco Investors INC. ET AL now owns 12,500 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 1,500 shares during the period. AMI Investment Management Inc. boosted its holdings in Horizon Bancorp by 12.0% during the third quarter. AMI Investment Management Inc. now owns 12,527 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 1,341 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Horizon Bancorp by 21.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 15,056 shares of the financial services provider’s stock valued at $161,000 after buying an additional 2,650 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Horizon Bancorp in the third quarter valued at about $166,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.00.

Horizon Bancorp Stock Up 1.9 %

Horizon Bancorp stock opened at $12.06 on Tuesday. The company’s 50-day moving average is $12.11 and its 200-day moving average is $12.08. Horizon Bancorp, Inc. has a fifty-two week low of $7.69 and a fifty-two week high of $14.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $531.97 million, a PE ratio of 18.84 and a beta of 1.02.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Horizon Bancorp had a net margin of 8.63% and a return on equity of 9.42%. The business had revenue of $21.81 million during the quarter, compared to the consensus estimate of $51.50 million. Sell-side analysts anticipate that Horizon Bancorp, Inc. will post 1.33 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is currently 100.00%.

About Horizon Bancorp

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.