Horizon Bancorp (IN) $HBNC Shares Sold by Sapient Capital LLC

Sapient Capital LLC decreased its stake in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 97.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 63,386 shares of the financial services provider’s stock after selling 2,016,626 shares during the period. Sapient Capital LLC’s holdings in Horizon Bancorp (IN) were worth $1,266,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Stieven Capital Advisors L.P. grew its position in shares of Horizon Bancorp (IN) by 18.4% during the fourth quarter. Stieven Capital Advisors L.P. now owns 444,000 shares of the financial services provider’s stock worth $7,530,000 after buying an additional 69,000 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Horizon Bancorp (IN) by 274.5% in the first quarter. Hsbc Holdings PLC now owns 80,277 shares of the financial services provider’s stock valued at $1,327,000 after acquiring an additional 58,840 shares in the last quarter. PL Capital Advisors LLC raised its holdings in 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 acquiring an additional 121,651 shares in the last quarter. 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 worth $54,093,000 after acquiring an additional 176,448 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its stake in Horizon Bancorp (IN) by 36.8% in the fourth quarter. Deprince Race & Zollo Inc. now owns 152,100 shares of the financial services provider’s stock worth $2,580,000 after acquiring an additional 40,913 shares during the last quarter. Institutional investors and hedge funds own 64.51% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Horizon Bancorp (IN)

In other news, EVP Kathie A. Deruiter sold 8,000 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $20.19, for a total value of $161,520.00. Following the completion of the sale, the executive vice president directly owned 50,346 shares of the company’s stock, valued at approximately $1,016,485.74. The trade was a 13.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.19% of the company’s stock.

Horizon Bancorp (IN) Trading Down 1.0%

NASDAQ HBNC opened at $20.22 on Tuesday. The firm’s fifty day moving average price is $19.84 and its 200 day moving average price is $18.32. Horizon Bancorp has a 12 month low of $14.84 and a 12 month high of $21.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -6.40 and a beta of 0.82.

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 analysts’ consensus estimates of $0.51 by ($0.02). Horizon Bancorp (IN) had a negative net margin of 36.38% and a positive return on equity of 13.52%. The company had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $76.56 million. On average, sell-side analysts expect that Horizon Bancorp will post 2.07 earnings per share for the current fiscal year.

Horizon Bancorp (IN) Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were given a dividend of $0.16 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. Horizon Bancorp (IN)’s payout ratio is -20.25%.

About Horizon Bancorp (IN)

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.