Sanctuary Advisors LLC Makes New Investment in Horizon Bancorp (IN) $HBNC

Sanctuary Advisors LLC bought a new stake in Horizon Bancorp (IN) (NASDAQ:HBNC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,858 shares of the financial services provider’s stock, valued at approximately $1,396,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Horizon Bancorp (IN) during the 2nd quarter worth approximately $143,890,000. Vanguard Group Inc. lifted its stake in Horizon Bancorp (IN) by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 3,189,417 shares of the financial services provider’s stock valued at $54,093,000 after purchasing an additional 176,448 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Horizon Bancorp (IN) by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,568,101 shares of the financial services provider’s stock valued at $41,116,000 after purchasing an additional 75,462 shares during the period. PL Capital Advisors LLC raised its stake in shares of Horizon Bancorp (IN) by 7.2% in the fourth quarter. PL Capital Advisors LLC now owns 1,812,825 shares of the financial services provider’s stock valued at $30,746,000 after buying an additional 121,651 shares during the period. Finally, Jennison Associates LLC boosted its position in Horizon Bancorp (IN) by 29.3% during the first quarter. Jennison Associates LLC now owns 1,605,798 shares of the financial services provider’s stock worth $26,608,000 after purchasing an additional 363,433 shares during the period. 64.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $21.00 price target on shares of Horizon Bancorp (IN) in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price objective on shares of Horizon Bancorp (IN) from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler reiterated a “neutral” rating and issued a $23.00 price objective (up from $21.00) on shares of Horizon Bancorp (IN) in a research note on Friday, July 24th. Wall Street Zen raised shares of Horizon Bancorp (IN) from a “hold” rating to a “buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings downgraded Horizon Bancorp (IN) from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.33.

Insider Transactions at Horizon Bancorp (IN)

In other Horizon Bancorp (IN) news, EVP Kathie A. Deruiter sold 8,000 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $20.19, for a total value of $161,520.00. Following the sale, the executive vice president directly owned 50,346 shares in the company, valued at $1,016,485.74. This represents a 13.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.19% of the stock is owned by corporate insiders.

Horizon Bancorp (IN) Stock Up 0.3%

HBNC stock opened at $19.60 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.01 billion, a PE ratio of -6.20 and a beta of 0.82. Horizon Bancorp has a twelve month low of $14.97 and a twelve month high of $21.04. The stock has a 50-day simple moving average of $20.06 and a two-hundred day simple moving average of $18.50.

Horizon Bancorp (IN) (NASDAQ:HBNC) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.31%. The company had revenue of $75.50 million for the quarter, compared to the consensus estimate of $76.56 million. On average, equities analysts predict that Horizon Bancorp will post 2.07 EPS for the current fiscal year.

Horizon Bancorp (IN) Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, July 2nd. Horizon Bancorp (IN)’s dividend payout ratio is -20.25%.

Horizon Bancorp (IN) Company Profile

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.