Sei Investments Co. Purchases 57,892 Shares of Horizon Bancorp (IN) $HBNC

Sei Investments Co. boosted its position in shares of Horizon Bancorp (IN) (NASDAQ:HBNC) by 175.2% in the first quarter, HoldingsChannel reports. The fund owned 90,926 shares of the financial services provider’s stock after purchasing an additional 57,892 shares during the quarter. Sei Investments Co.’s holdings in Horizon Bancorp (IN) were worth $1,507,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HBNC. EverSource Wealth Advisors LLC increased its position in shares of Horizon Bancorp (IN) by 65.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,666 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 660 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Horizon Bancorp (IN) by 160.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,536 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 4,024 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Horizon Bancorp (IN) in the 4th quarter worth $124,000. Raymond James Financial Inc. purchased a new position in Horizon Bancorp (IN) during the 2nd quarter worth $134,000. Finally, Quadrant Capital Group LLC purchased a new position in Horizon Bancorp (IN) during the 3rd quarter worth $140,000. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods increased their price target on Horizon Bancorp (IN) from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler restated a “neutral” rating and set a $23.00 price target (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 report on Saturday. Weiss Ratings upgraded shares of Horizon Bancorp (IN) from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Finally, Stephens reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of Horizon Bancorp (IN) in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.33.

Horizon Bancorp (IN) Price Performance

Shares of NASDAQ HBNC opened at $20.22 on Tuesday. The business’s 50 day moving average price is $19.84 and its 200 day moving average price is $18.32. The firm has a market cap of $1.04 billion, a P/E ratio of -6.40 and a beta of 0.82. Horizon Bancorp has a 52 week low of $14.84 and a 52 week high of $21.04. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.

Horizon Bancorp (IN) (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Horizon Bancorp (IN) had a positive return on equity of 13.52% and a negative net margin of 36.38%.The business had revenue of $75.50 million for 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 year.

Horizon Bancorp (IN) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a $0.16 dividend. 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 dividend payout ratio is presently -20.25%.

Insider Buying and Selling at Horizon Bancorp (IN)

In related news, EVP Kathie A. Deruiter sold 8,000 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $20.19, for a total transaction of $161,520.00. Following the completion of the transaction, the executive vice president owned 50,346 shares of the company’s stock, valued at $1,016,485.74. This trade represents a 13.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.19% of the stock is owned by insiders.

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.