Horizon Bancorp (IN) (HBNC) to Issue Quarterly Dividend of $0.16 on July 17th

Horizon Bancorp (IN) (NASDAQ:HBNC) announced a quarterly dividend on Tuesday, June 16th. Investors of record on Friday, July 3rd will be paid a dividend of 0.16 per share by the financial services provider on Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, July 2nd.

Horizon Bancorp (IN) has raised its dividend by an average of 0.1%per year over the last three years. Horizon Bancorp (IN) has a payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Horizon Bancorp (IN) to earn $2.22 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 28.8%.

Horizon Bancorp (IN) Stock Down 0.9%

Shares of NASDAQ:HBNC opened at $19.25 on Thursday. The business has a 50-day moving average price of $18.28 and a 200 day moving average price of $17.62. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $988.10 million, a price-to-earnings ratio of -6.05 and a beta of 0.83. Horizon Bancorp has a 12-month low of $14.34 and a 12-month high of $19.93.

Horizon Bancorp (IN) (NASDAQ:HBNC) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $73.48 million during the quarter, compared to the consensus estimate of $76.11 million. Horizon Bancorp (IN) had a positive return on equity of 12.41% and a negative net margin of 37.28%. Sell-side analysts expect that Horizon Bancorp will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Horizon Bancorp (IN)

Institutional investors and hedge funds have recently made changes to their positions in the stock. Siena Capital Partners GP LLC acquired a new position in shares of Horizon Bancorp (IN) during the third quarter worth about $2,093,000. Stieven Capital Advisors L.P. grew its position in shares of Horizon Bancorp (IN) by 18.4% during the fourth quarter. Stieven Capital Advisors L.P. now owns 444,000 shares of the financial services provider’s stock worth $7,530,000 after buying an additional 69,000 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Horizon Bancorp (IN) during the third quarter worth about $684,000. Hillsdale Investment Management Inc. grew its position in shares of Horizon Bancorp (IN) by 22.5% during the third quarter. Hillsdale Investment Management Inc. now owns 412,830 shares of the financial services provider’s stock worth $6,609,000 after buying an additional 75,750 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Horizon Bancorp (IN) by 452.9% during the third quarter. JPMorgan Chase & Co. now owns 363,548 shares of the financial services provider’s stock worth $5,820,000 after buying an additional 297,799 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

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.