Horizon Bancorp (NASDAQ:HBNC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Horizon Bancorp (NASDAQ:HBNC) from a sell rating to a hold rating in a research note published on Monday morning.

Separately, Piper Sandler lowered their price objective on shares of Horizon Bancorp from $14.00 to $13.00 and set a neutral rating for the company in a research report on Monday.

Horizon Bancorp Trading Up 6.0 %

NASDAQ HBNC opened at $12.17 on Monday. 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 stock has a market capitalization of $536.83 million, a P/E ratio of 22.54 and a beta of 1.02. The firm’s 50-day moving average is $12.03 and its two-hundred day moving average is $12.13. Horizon Bancorp has a 12 month low of $7.69 and a 12 month high of $14.71.

Horizon Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.26%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio is currently 118.52%.

Institutional Trading of Horizon Bancorp

Several hedge funds have recently made changes to their positions in HBNC. EMC Capital Management increased its stake in Horizon Bancorp by 15.0% during the 3rd 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. AMI Investment Management Inc. increased its position in shares of 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 worth $134,000 after acquiring an additional 1,341 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Horizon Bancorp by 13.6% in 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 in the last quarter. Strs Ohio boosted its holdings in Horizon Bancorp by 3.0% in the third quarter. Strs Ohio now owns 54,200 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 1,600 shares during the period. Finally, 1ST Source Bank grew its stake in Horizon Bancorp by 2.7% during the 3rd quarter. 1ST Source Bank now owns 69,533 shares of the financial services provider’s stock worth $743,000 after purchasing an additional 1,860 shares in the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp Company 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.