Short Interest in Horizon Bancorp (IN) (NASDAQ:HBNC) Increases By 37.3%

Horizon Bancorp (IN) (NASDAQ:HBNC) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,619,378 shares, an increase of 37.3% from the December 15th total of 1,179,740 shares. Based on an average trading volume of 469,345 shares, the short-interest ratio is presently 3.5 days. Approximately 3.2% of the shares of the company are short sold. Approximately 3.2% of the shares of the company are short sold. Based on an average trading volume of 469,345 shares, the short-interest ratio is presently 3.5 days.

Institutional Investors Weigh In On Horizon Bancorp (IN)

Several hedge funds have recently bought and sold shares of HBNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Horizon Bancorp (IN) by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,722 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 1,057 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Horizon Bancorp (IN) by 28.5% during the 1st quarter. Empowered Funds LLC now owns 150,435 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 33,355 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Horizon Bancorp (IN) in the 1st quarter valued at approximately $1,231,000. Strs Ohio acquired a new position in Horizon Bancorp (IN) in the first quarter worth approximately $552,000. Finally, Wedge Capital Management L L P NC bought a new position in Horizon Bancorp (IN) during the second quarter valued at approximately $818,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp (IN) Price Performance

Shares of NASDAQ HBNC traded down $0.14 during trading on Monday, hitting $17.51. The company had a trading volume of 415,336 shares, compared to its average volume of 358,912. The company has a market cap of $896.86 million, a P/E ratio of -4.46 and a beta of 0.82. Horizon Bancorp has a 52 week low of $12.70 and a 52 week high of $18.70. The business’s 50-day moving average is $17.14 and its 200 day moving average is $16.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 0.91.

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

Horizon Bancorp (IN) Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.16 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.7%. Horizon Bancorp (IN)’s dividend payout ratio is presently -16.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HBNC shares. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Bancorp (IN) in a research note on Monday, December 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Horizon Bancorp (IN) in a research report on Tuesday, December 2nd. Finally, Zacks Research downgraded shares of Horizon Bancorp (IN) from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.67.

About Horizon Bancorp (IN)

Horizon Bancorp (NASDAQ: HBNC) is a financial holding company headquartered in Columbus, Indiana, offering community banking and wealth management services through its subsidiary, Horizon Bank. As a locally focused institution, it provides a full range of retail and commercial banking products, including checking and savings accounts, consumer and mortgage lending, commercial real estate financing, and treasury management solutions.

In addition to traditional deposit and loan products, Horizon Bancorp’s services encompass investment advisory and trust administration, retirement planning, and insurance products.