Piper Sandler Lowers Horizon Bancorp (NASDAQ:HBNC) Price Target to $13.00

Horizon Bancorp (NASDAQ:HBNC) had its price objective cut by Piper Sandler from $14.00 to $13.00 in a report published on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Separately, StockNews.com cut shares of Horizon Bancorp from a hold rating to a sell rating in a research note on Wednesday, April 10th.

Horizon Bancorp Trading Up 6.0 %

Horizon Bancorp stock opened at $12.17 on Monday. The stock has a 50-day moving average price of $12.03 and a 200 day moving average price of $12.13. The company has a market capitalization of $536.83 million, a price-to-earnings ratio of 22.54 and a beta of 1.02. Horizon Bancorp has a 52 week low of $7.69 and a 52 week high of $14.71. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.16.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is 118.52%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Harbour Trust & Investment Management Co purchased a new position in shares of Horizon Bancorp during the 4th quarter valued at approximately $6,167,000. Swiss National Bank grew its position in Horizon Bancorp by 2.2% during the third quarter. Swiss National Bank now owns 96,950 shares of the financial services provider’s stock valued at $1,035,000 after buying an additional 2,100 shares during the period. 1ST Source Bank increased its holdings in Horizon Bancorp by 2.7% in the third quarter. 1ST Source Bank now owns 69,533 shares of the financial services provider’s stock valued at $743,000 after buying an additional 1,860 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Horizon Bancorp by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,183,993 shares of the financial services provider’s stock worth $23,325,000 after acquiring an additional 34,861 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Horizon Bancorp by 7.6% during the 3rd quarter. AQR Capital Management LLC now owns 634,821 shares of the financial services provider’s stock worth $6,780,000 after acquiring an additional 44,810 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

About Horizon Bancorp

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.