Horizon Bancorp (NASDAQ:HBNC – Free Report) had its price target lowered by Piper Sandler from $14.00 to $13.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.
Separately, StockNews.com cut Horizon Bancorp from a hold rating to a sell rating in a report on Wednesday, April 10th.
View Our Latest Stock Report on Horizon Bancorp
Horizon Bancorp Stock Performance
Horizon Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend was Thursday, April 4th. Horizon Bancorp’s dividend payout ratio (DPR) is presently 118.52%.
Hedge Funds Weigh In On Horizon Bancorp
Institutional investors have recently bought and sold shares of the stock. Sapient Capital LLC bought a new position in shares of Horizon Bancorp during the 4th quarter valued at about $29,765,000. Harbour Trust & Investment Management Co bought a new position in Horizon Bancorp during the fourth quarter valued at approximately $6,167,000. PL Capital Advisors LLC grew its holdings in Horizon Bancorp by 6.8% during the 1st quarter. PL Capital Advisors LLC now owns 1,623,174 shares of the financial services provider’s stock valued at $20,825,000 after buying an additional 103,084 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in Horizon Bancorp by 31.5% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 394,602 shares of the financial services provider’s stock worth $4,214,000 after acquiring an additional 94,581 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Horizon Bancorp by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,955,694 shares of the financial services provider’s stock worth $27,987,000 after acquiring an additional 94,332 shares in the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.
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.
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