Horizon Bancorp (NASDAQ:HBNC) Given New $13.00 Price Target at Piper Sandler

Horizon Bancorp (NASDAQ:HBNC) had its price objective cut by Piper Sandler from $14.00 to $13.00 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Separately, StockNews.com lowered Horizon Bancorp from a hold rating to a sell rating in a research note on Wednesday, April 10th.

Horizon Bancorp Price Performance

HBNC stock opened at $11.54 on Monday. Horizon Bancorp has a 1 year low of $7.69 and a 1 year high of $14.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50 day moving average price is $12.05 and its 200 day moving average price is $12.12. The firm has a market cap of $509.03 million, a P/E ratio of 21.37 and a beta of 1.02.

Horizon Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date was Thursday, April 4th. Horizon Bancorp’s payout ratio is currently 118.52%.

Institutional Investors Weigh In On Horizon Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sapient Capital LLC purchased a new position in shares of Horizon Bancorp during the 4th quarter worth $29,765,000. Harbour Trust & Investment Management Co purchased a new position in shares of Horizon Bancorp during the 4th quarter worth $6,167,000. Pacific Ridge Capital Partners LLC lifted its stake in shares of Horizon Bancorp by 31.5% during 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 purchasing an additional 94,581 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 94,332 shares during the period. Finally, PL Capital Advisors LLC lifted its stake in shares of Horizon Bancorp by 4.3% during the 3rd quarter. PL Capital Advisors LLC now owns 1,620,090 shares of the financial services provider’s stock worth $17,303,000 after purchasing an additional 67,000 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.

About Horizon Bancorp

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.