6,216 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC purchased a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,216 shares of the financial services provider’s stock, valued at approximately $80,000.

A number of other hedge funds also recently modified their holdings of HBNC. EMC Capital Management grew its stake in Horizon Bancorp by 11.0% in the 1st quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock valued at $138,000 after buying an additional 1,064 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Horizon Bancorp by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,749 shares in the last quarter. Black Maple Capital Management LP grew its position in shares of Horizon Bancorp by 10.7% during the 1st quarter. Black Maple Capital Management LP now owns 41,372 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 4,000 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Horizon Bancorp by 969.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,048 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 4,576 shares in the last quarter. Finally, Capital Asset Advisory Services LLC grew its position in shares of Horizon Bancorp by 46.7% during the 1st quarter. Capital Asset Advisory Services LLC now owns 15,523 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 4,943 shares in the last quarter. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Stock Down 2.8 %

Shares of HBNC stock traded down $0.43 during trading hours on Friday, hitting $14.68. 187,072 shares of the company’s stock traded hands, compared to its average volume of 226,161. The stock’s fifty day simple moving average is $13.03 and its two-hundred day simple moving average is $12.61. Horizon Bancorp, Inc. has a 12-month low of $9.22 and a 12-month high of $16.62. The stock has a market cap of $647.68 million, a price-to-earnings ratio of 27.19 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.04.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Horizon Bancorp had a net margin of 5.50% and a return on equity of 8.21%. The firm had revenue of $97.47 million during the quarter, compared to analyst estimates of $55.03 million. During the same period last year, the business earned $0.41 earnings per share. On average, analysts expect that Horizon Bancorp, Inc. will post 1.36 EPS for the current year.

Horizon Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Friday, July 5th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 118.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBNC. Keefe, Bruyette & Woods lifted their price objective on shares of Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Piper Sandler lifted their price objective on shares of Horizon Bancorp from $13.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 31st.

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.