Capital Asset Advisory Services LLC Sells 4,237 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Capital Asset Advisory Services LLC cut its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 27.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,286 shares of the financial services provider’s stock after selling 4,237 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Horizon Bancorp were worth $178,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HBNC. Dimensional Fund Advisors LP raised its position in Horizon Bancorp by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after purchasing an additional 135,217 shares during the period. Sei Investments Co. grew its stake in shares of Horizon Bancorp by 12.3% during the second quarter. Sei Investments Co. now owns 28,486 shares of the financial services provider’s stock valued at $352,000 after buying an additional 3,109 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Horizon Bancorp in the second quarter worth about $432,000. Squarepoint Ops LLC bought a new stake in shares of Horizon Bancorp in the 2nd quarter valued at about $322,000. Finally, AQR Capital Management LLC lifted its stake in shares of Horizon Bancorp by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after acquiring an additional 50,666 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler cut their target price on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday. Hovde Group assumed coverage on shares of Horizon Bancorp in a report on Monday, September 30th. They set an “outperform” rating and a $18.00 price target for the company. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Horizon Bancorp Price Performance

Shares of Horizon Bancorp stock opened at $17.13 on Tuesday. The business has a 50 day moving average of $16.87 and a 200 day moving average of $16.03. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18. The company has a market cap of $748.84 million, a PE ratio of 21.41 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83.

Horizon Bancorp (NASDAQ:HBNC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. As a group, equities research analysts forecast that Horizon Bancorp, Inc. will post 1.67 earnings per share for the current year.

Horizon Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were given a dividend of $0.16 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.64 annualized dividend and a yield of 3.74%. Horizon Bancorp’s payout ratio is 80.00%.

Horizon Bancorp 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.