Truist Financial Corp Lowers Stock Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Truist Financial Corp lessened its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC – Get Rating) by 28.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,906 shares of the financial services provider’s stock after selling 12,580 shares during the period. Truist Financial Corp’s holdings in Horizon Bancorp were worth $573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wipfli Financial Advisors LLC purchased a new stake in Horizon Bancorp during the third quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new stake in Horizon Bancorp during the first quarter valued at approximately $31,000. Quadrant Capital Group LLC lifted its position in Horizon Bancorp by 49.3% during the second quarter. Quadrant Capital Group LLC now owns 1,994 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 658 shares during the last quarter. Venture Visionary Partners LLC purchased a new stake in Horizon Bancorp during the second quarter valued at approximately $36,000. Finally, Captrust Financial Advisors lifted its position in Horizon Bancorp by 53.9% during the first quarter. Captrust Financial Advisors now owns 3,399 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,191 shares during the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Insider Transactions at Horizon Bancorp

In other news, CEO Craig M. Dwight purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were purchased at an average cost of $15.08 per share, with a total value of $30,160.00. Following the completion of the acquisition, the chief executive officer now owns 367,703 shares of the company’s stock, valued at approximately $5,544,961.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HBNC. Stephens decreased their target price on shares of Horizon Bancorp from $25.50 to $18.00 and set an “overweight” rating for the company in a research report on Monday, October 31st. Piper Sandler cut their price target on shares of Horizon Bancorp to $18.00 in a research note on Tuesday, November 1st. StockNews.com lowered shares of Horizon Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Raymond James cut their price target on shares of Horizon Bancorp from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Finally, Keefe, Bruyette & Woods lowered shares of Horizon Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the company from $23.00 to $18.00 in a research note on Thursday, October 27th.

Horizon Bancorp Stock Up 1.6 %

NASDAQ:HBNC opened at $15.63 on Monday. The firm has a market capitalization of $686.70 million, a P/E ratio of 7.27 and a beta of 0.95. Horizon Bancorp, Inc. has a 1-year low of $14.50 and a 1-year high of $22.77. The company’s fifty day moving average price is $15.43 and its 200-day moving average price is $17.40. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.70 and a quick ratio of 0.70.

Horizon Bancorp (NASDAQ:HBNC – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). The business had revenue of $63.58 million during the quarter, compared to analyst estimates of $67.50 million. Horizon Bancorp had a return on equity of 14.10% and a net margin of 33.89%. As a group, equities research analysts anticipate that Horizon Bancorp, Inc. will post 2.16 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 20th. Stockholders of record on Friday, January 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, January 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.09%. Horizon Bancorp’s payout ratio is currently 29.77%.

About Horizon Bancorp

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Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.