Harbour Trust & Investment Management Co Cuts Holdings in Horizon Bancorp (IN) $HBNC

Harbour Trust & Investment Management Co reduced its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 19.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,214 shares of the financial services provider’s stock after selling 65,355 shares during the quarter. Harbour Trust & Investment Management Co owned 0.52% of Horizon Bancorp (IN) worth $4,214,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in Horizon Bancorp (IN) in the 3rd quarter valued at $28,000. SG Americas Securities LLC raised its position in shares of Horizon Bancorp (IN) by 13.2% during the 3rd quarter. SG Americas Securities LLC now owns 17,486 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 2,037 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Horizon Bancorp (IN) in the 3rd quarter valued at about $1,780,000. CWM LLC increased its stake in Horizon Bancorp (IN) by 272.0% during the 3rd quarter. CWM LLC now owns 26,314 shares of the financial services provider’s stock worth $421,000 after buying an additional 19,241 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Horizon Bancorp (IN) by 11.2% in the third quarter. Inspire Investing LLC now owns 28,167 shares of the financial services provider’s stock valued at $451,000 after acquiring an additional 2,839 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) Stock Performance

NASDAQ:HBNC opened at $17.65 on Friday. Horizon Bancorp has a fifty-two week low of $12.70 and a fifty-two week high of $18.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day moving average price of $17.11 and a 200 day moving average price of $16.36. The stock has a market capitalization of $904.03 million, a P/E ratio of -4.49 and a beta of 0.82.

Horizon Bancorp (IN) (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.16). The business had revenue of $59.98 million for the quarter, compared to analyst estimates of $69.34 million. Horizon Bancorp (IN) had a positive return on equity of 10.01% and a negative net margin of 51.01%. Equities research analysts forecast that Horizon Bancorp will post 1.78 EPS for the current year.

Horizon Bancorp (IN) Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.6%. Horizon Bancorp (IN)’s dividend payout ratio is currently -16.28%.

Analyst Ratings Changes

Several equities research analysts have issued reports on HBNC shares. Zacks Research cut shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Horizon Bancorp (IN) in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Bancorp (IN) in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.67.

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.