Charles Schwab Investment Management Inc. Raises Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Charles Schwab Investment Management Inc. increased its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 350,981 shares of the financial services provider’s stock after purchasing an additional 22,727 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Horizon Bancorp were worth $5,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in HBNC. CWM LLC raised its position in Horizon Bancorp by 1,656.2% in the 2nd quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 3,064 shares during the period. Pathway Financial Advisers LLC raised its position in Horizon Bancorp by 44.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 2,740 shares during the period. Mackenzie Financial Corp purchased a new position in Horizon Bancorp in the 2nd quarter worth $133,000. Elser Financial Planning Inc purchased a new position in Horizon Bancorp in the 2nd quarter worth $137,000. Finally, Sanctuary Advisors LLC purchased a new position in Horizon Bancorp in the 2nd quarter worth $150,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Trading Down 0.8 %

Shares of NASDAQ HBNC opened at $17.63 on Friday. The firm’s 50 day moving average price is $16.91 and its 200-day moving average price is $15.06. The company has a market cap of $770.70 million, a PE ratio of 37.60 and a beta of 1.05. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. The firm had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $58.23 million. During the same period in the previous year, the company earned $0.37 earnings per share. On average, equities research analysts expect that Horizon Bancorp, Inc. will post 1.4 EPS for the current fiscal year.

Horizon Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, October 4th. This represents a $0.64 annualized dividend and a dividend yield of 3.63%. Horizon Bancorp’s payout ratio is 136.17%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Hovde Group assumed coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.75.

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.