Axxcess Wealth Management LLC Sells 4,237 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Axxcess Wealth Management LLC reduced its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 27.3% in the fourth quarter, according to its most recent 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 period. Axxcess Wealth Management LLC’s holdings in Horizon Bancorp were worth $182,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBNC. Charles Schwab Investment Management Inc. increased its holdings in Horizon Bancorp by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock worth $5,458,000 after purchasing an additional 22,727 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Horizon Bancorp by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,070 shares of the financial services provider’s stock worth $328,000 after buying an additional 4,501 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Horizon Bancorp in the 3rd quarter worth approximately $169,000. Centiva Capital LP purchased a new position in shares of Horizon Bancorp in the 3rd quarter worth approximately $163,000. Finally, Quarry LP boosted its stake in shares of Horizon Bancorp by 508.1% in the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,753 shares during the last quarter. 64.51% of the stock is owned by institutional investors.

Horizon Bancorp Price Performance

Horizon Bancorp stock opened at $15.28 on Friday. Horizon Bancorp, Inc. has a 12 month low of $11.18 and a 12 month high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The business’s 50 day simple moving average is $16.41 and its 200 day simple moving average is $16.45. The company has a market cap of $672.55 million, a price-to-earnings ratio of 19.10 and a beta of 1.05.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings data 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 net margin of 9.86% and a return on equity of 8.48%. Sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.19%. Horizon Bancorp’s payout ratio is 80.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HBNC shares. Piper Sandler cut their target price on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

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.