Horizon Bancorp, Inc. (NASDAQ:HBNC) Stock Position Trimmed by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC decreased its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,406 shares of the financial services provider’s stock after selling 2,650 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Horizon Bancorp were worth $178,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. EMC Capital Management grew its holdings in Horizon Bancorp by 15.0% in the 3rd quarter. EMC Capital Management now owns 9,709 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,267 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Horizon Bancorp by 75.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,680 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 5,009 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Horizon Bancorp by 13.6% during the third quarter. Gamco Investors INC. ET AL now owns 12,500 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 1,500 shares during the period. AMI Investment Management Inc. raised its stake in shares of Horizon Bancorp by 12.0% during the third quarter. AMI Investment Management Inc. now owns 12,527 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Horizon Bancorp during the third quarter valued at about $166,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HBNC. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Piper Sandler cut their price target on shares of Horizon Bancorp from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday.

Horizon Bancorp Stock Up 6.0 %

Horizon Bancorp stock opened at $12.17 on Thursday. The company has a market capitalization of $536.82 million, a P/E ratio of 22.54 and a beta of 1.03. Horizon Bancorp, Inc. has a 1-year low of $7.69 and a 1-year high of $14.71. The firm’s fifty day simple moving average is $12.03 and its 200-day simple moving average is $12.13. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.16.

Horizon Bancorp Announces Dividend

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

Horizon Bancorp Company Profile

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.