Sabal Trust CO boosted its position in Horizon Bancorp (NASDAQ:HBNC) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 10,822 shares of the financial services provider’s stock after buying an additional 164 shares during the period. Sabal Trust CO’s holdings in Horizon Bancorp were worth $272,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Horizon Bancorp by 215.2% in the first quarter. Wellington Management Group LLP now owns 410,474 shares of the financial services provider’s stock valued at $10,146,000 after buying an additional 280,256 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position 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 valued at $218,000 after buying an additional 483 shares during the last quarter. State Street Corp increased its position in shares of Horizon Bancorp by 7.4% in the first quarter. State Street Corp now owns 143,383 shares of the financial services provider’s stock valued at $3,543,000 after buying an additional 9,868 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $1,513,000 after buying an additional 760 shares during the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Horizon Bancorp during the second quarter valued at approximately $1,302,000. 36.09% of the stock is currently owned by institutional investors and hedge funds.
Horizon Bancorp (NASDAQ:HBNC) traded up 0.45% on Wednesday, reaching $29.02. 20,863 shares of the company traded hands. Horizon Bancorp has a 52-week low of $21.92 and a 52-week high of $30.08. The company has a market capitalization of $428.80 million, a PE ratio of 15.87 and a beta of 0.49. The stock has a 50-day moving average of $28.38 and a 200 day moving average of $25.99.
Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts forecast that Horizon Bancorp will post $2.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.60 annualized dividend and a dividend yield of 2.07%. Horizon Bancorp’s dividend payout ratio is presently 32.79%.
Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Horizon Bancorp from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Zacks Investment Research raised Horizon Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, September 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Horizon Bancorp has an average rating of “Buy” and a consensus target price of $30.33.
In other news, insider Thomas H. Edwards sold 10,000 shares of the firm’s 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 transaction, the insider now directly owns 10,097 shares of the company’s stock, valued at $279,182.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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