Horizon Bancorp (IN) (HBNC) to Issue Quarterly Dividend of $0.16 on January 16th

Horizon Bancorp (IN) (NASDAQ:HBNC) announced a quarterly dividend on Tuesday, December 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of 0.16 per share by the financial services provider on Friday, January 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, January 2nd.

Horizon Bancorp (IN) has raised its dividend payment by an average of 0.1%per year over the last three years. Horizon Bancorp (IN) has a dividend payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Horizon Bancorp (IN) to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 34.0%.

Horizon Bancorp (IN) Price Performance

Horizon Bancorp (IN) stock opened at $18.13 on Thursday. The company has a market capitalization of $928.62 million, a price-to-earnings ratio of -4.61 and a beta of 0.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. Horizon Bancorp has a 12 month low of $12.70 and a 12 month high of $18.70. The stock’s 50 day moving average is $16.45 and its 200-day moving average is $16.02.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.16). The firm had revenue of $59.98 million during the quarter, compared to the consensus estimate of $69.34 million. Horizon Bancorp (IN) had a negative net margin of 51.01% and a positive return on equity of 10.01%. Equities research analysts expect that Horizon Bancorp will post 1.78 EPS for the current year.

Institutional Investors Weigh In On Horizon Bancorp (IN)

A number of large investors have recently bought and sold shares of HBNC. State of Alaska Department of Revenue acquired a new position in shares of Horizon Bancorp (IN) in the 3rd quarter valued at approximately $28,000. Tower Research Capital LLC TRC lifted its stake in Horizon Bancorp (IN) by 160.2% during the second 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Horizon Bancorp (IN) in the 2nd quarter valued at $134,000. Quadrant Capital Group LLC acquired a new stake in shares of Horizon Bancorp (IN) in the 3rd quarter valued at $140,000. Finally, New York State Common Retirement Fund increased its stake in shares of Horizon Bancorp (IN) by 17.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,514 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 1,600 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Horizon Bancorp (IN) 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.