Horizon Bancorp, Inc. (NASDAQ:HBNC) Declares $0.16 Quarterly Dividend

Horizon Bancorp, Inc. (NASDAQ:HBNCGet Free Report) announced a quarterly dividend on Tuesday, March 19th, NASDAQ reports. Investors of record on Friday, April 5th will be paid a dividend of 0.16 per share by the financial services provider on Friday, April 19th. This represents a $0.64 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Thursday, April 4th.

Horizon Bancorp has raised its dividend payment by an average of 10.1% per year over the last three years. Horizon Bancorp has a dividend payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Horizon Bancorp to earn $1.52 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 42.1%.

Horizon Bancorp Stock Performance

Shares of NASDAQ:HBNC opened at $12.43 on Tuesday. The company has a market cap of $548.29 million, a P/E ratio of 19.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.70 and a current ratio of 0.70. Horizon Bancorp has a one year low of $7.69 and a one year high of $14.71. The business’s 50-day simple moving average is $12.52 and its 200 day simple moving average is $11.94.

Horizon Bancorp (NASDAQ:HBNCGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. Horizon Bancorp had a return on equity of 9.42% and a net margin of 8.63%. The company had revenue of $21.81 million for the quarter, compared to the consensus estimate of $51.50 million. On average, sell-side analysts forecast that Horizon Bancorp will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HBNC. Piper Sandler lifted their price objective on Horizon Bancorp from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, December 13th. StockNews.com downgraded Horizon Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Stephens reiterated an “overweight” rating and issued a $12.00 price target on shares of Horizon Bancorp in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.00.

View Our Latest Stock Report on HBNC

Institutional Investors Weigh In On Horizon Bancorp

A number of institutional investors have recently made changes to their positions in the company. Rothschild & Co. Asset Management US Inc. increased its holdings in shares of Horizon Bancorp by 1.0% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 94,963 shares of the financial services provider’s stock valued at $1,773,000 after acquiring an additional 911 shares during the last quarter. Creative Planning boosted its position in Horizon Bancorp by 2.9% during the 4th quarter. Creative Planning now owns 32,915 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 933 shares during the period. Captrust Financial Advisors boosted its position in Horizon Bancorp by 7.2% during the 2nd quarter. Captrust Financial Advisors now owns 14,388 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 967 shares during the period. Marathon Capital Management boosted its position in Horizon Bancorp by 2.6% during the 2nd quarter. Marathon Capital Management now owns 38,775 shares of the financial services provider’s stock valued at $404,000 after purchasing an additional 1,000 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in Horizon Bancorp by 31.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,271 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 1,022 shares during the period. 64.51% of the stock is currently owned by institutional investors.

Horizon Bancorp Company Profile

(Get Free Report)

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 saving, money market, and time deposits, as well as non-interest and interest bearing demand deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans.

See Also

Dividend History for Horizon Bancorp (NASDAQ:HBNC)

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