Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 383,120 shares of the financial services provider’s stock after selling 31,118 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Horizon Bancorp were worth $6,678,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Horizon Bancorp by 1.1% in the 1st quarter. Swiss National Bank now owns 90,250 shares of the financial services provider’s stock valued at $1,677,000 after purchasing an additional 1,000 shares in the last quarter. Federated Hermes Inc. raised its stake in Horizon Bancorp by 5.4% during the first quarter. Federated Hermes Inc. now owns 25,951 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 1,324 shares during the period. Marshall Wace LLP acquired a new stake in Horizon Bancorp during the first quarter worth about $26,000. Royal Bank of Canada raised its stake in Horizon Bancorp by 102.2% during the first quarter. Royal Bank of Canada now owns 3,241 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 1,638 shares during the period. Finally, Stifel Financial Corp raised its stake in Horizon Bancorp by 1.5% during the second quarter. Stifel Financial Corp now owns 113,795 shares of the financial services provider’s stock worth $1,983,000 after acquiring an additional 1,638 shares during the period. Institutional investors and hedge funds own 53.28% of the company’s stock.

Shares of NASDAQ:HBNC opened at $18.01 on Thursday. The stock has a market capitalization of $791.56 million, a price-to-earnings ratio of 9.38 and a beta of 1.29. Horizon Bancorp, Inc. has a 1-year low of $11.00 and a 1-year high of $20.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.79 and a current ratio of 0.80. The company has a 50 day moving average price of $17.84 and a 200 day moving average price of $17.83.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Monday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. The firm had revenue of $57.84 million during the quarter, compared to analysts’ expectations of $56.10 million. Horizon Bancorp had a net margin of 32.13% and a return on equity of 12.31%. On average, sell-side analysts expect that Horizon Bancorp, Inc. will post 1.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 22nd. Investors of record on Friday, October 8th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.33%. This is a boost from Horizon Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, October 7th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 39.22%.

Several brokerages have commented on HBNC. Zacks Investment Research upgraded shares of Horizon Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, August 3rd. Raymond James increased their price objective on shares of Horizon Bancorp from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, August 26th.

Horizon Bancorp Profile

Horizon Bancorp, Inc (Indiana) is a bank holding company, which engages in the provision of commercial and retail banking services. It offers personal banking, business banking, investment and trust, and mortgage services. The company was founded in 1873 and is headquartered in Michigan City, IN.

Featured Article: What is the operating income formula?

Want to see what other hedge funds are holding HBNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Horizon Bancorp, Inc. (NASDAQ:HBNC).

Institutional Ownership by Quarter for Horizon Bancorp (NASDAQ:HBNC)

Receive News & Ratings for Horizon Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.