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Horizon Bancorp, Inc. (NASDAQ:HBNC) reported Tuesday that its Board of Directors approved a cash dividend of $0.16 per share, maintaining its impressive 39-year streak of consecutive dividend payments. The quarterly dividend, which translates to an attractive 3.97% annual yield, will be paid on October 17, 2025, to shareholders of record as of October 3, 2025. According to InvestingPro data, the company has maintained above-average dividend yields compared to its peers.
The company’s common stock is listed on The NASDAQ Stock Market, LLC under the ticker symbol HBNC. Horizon Bancorp is headquartered in Michigan City, Indiana.
This information is based on a press release statement included in the company’s latest SEC filing.
In other recent news, Horizon Bancorp has successfully completed key elements of its balance sheet restructuring plan, surpassing initial expectations. The company raised $98.6 million in net proceeds from a common stock offering on August 22, selling approximately 7.1 million shares. Additionally, Horizon Bancorp completed a $100 million subordinated notes offering on August 29 with a fixed interest rate of 7.00%, which was lower than the initially projected 7.50%. The company also closed a common stock offering, raising approximately $103.5 million in gross proceeds by selling 7,138,050 shares at $14.50 per share, including additional shares sold through underwriters’ options.
Analyst firms have responded positively to these developments. Stephens has raised its price target for Horizon Bancorp to $22, maintaining an Overweight rating due to the company’s efforts to strengthen its balance sheet. Meanwhile, Keefe, Bruyette & Woods upgraded Horizon Bancorp from Market Perform to Outperform, raising its price target to $19. This upgrade is attributed to strategic actions aimed at improving earnings power, interest rate risk, liquidity, and capital generation. These recent financial maneuvers and analyst upgrades highlight Horizon Bancorp’s strategic focus on enhancing its financial structure and future growth prospects.
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