Horizon Bancorp, Inc. (HBNC)

Horizon Bancorp's stock has been impacted by a common stock offering and a subordinated notes offering, generating net proceeds of $98.6 million and $100 million, respectively. The company sold $1.7 billion of securities, resulting in a pre-tax loss of $299.1 million, prepaid $700 million of FHLB advances, and redeployed $600 million into securities yielding 5.27%. The company reported a net loss of $222.0 million for Q3 2025, attributed to balance sheet repositioning activities, with earnings per share and revenue falling short of analysts' expectations. Analysts have a consensus "Hold" rating on HBNC, with an average 12-month target price of $19.67. Activist investor PL Capital has urged the bank to consider a sale. Horizon Bancorp also announced a quarterly dividend of $0.16 per share, payable on January 16, 2026.

While specific demand seasonality for Horizon Bancorp's products and services was not detailed, the banking industry generally experiences seasonal trends with loan demand typically low in January and February, increasing in March, and often peaking in August or September, before decreasing again until December. This pattern is influenced by factors such as changes in interest rates and increased demand for investment services in December and early January.

Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank, offering commercial and retail banking services, including various loan products, trust and agency services, investment management, and insurance products.

Horizon Bancorp's operations are concentrated in the Midwestern United States, serving customers through Horizon Bank branches in 39 counties across northern and central Indiana and southern and central Michigan, with 44 full-service branches in Indiana and 27 in Michigan as of June 30, 2025.

Specific events directly impacting Horizon Bancorp's brand reputation or detailed customer sentiment in the past year were not prominently found. In 2014, Horizon Bancorp was recognized by American Banker magazine as one of the Top 200 Community Banks in the Nation for the sixth consecutive year, based on its 3-year average Return on Equity.

Major institutional owners of Horizon Bancorp, Inc. include BlackRock, Inc., The Vanguard Group, Inc., and Dimensional Fund Advisors LP. BlackRock, Inc. holds 12.50% of the shares, while The Vanguard Group, Inc. holds 5.88%. Institutional shareholders collectively own 75.28% of Horizon Bancorp, with insiders owning 13.44% and retail investors holding 11.28%. Nathan Salin Family Irrevocable Trust 1. William is the largest individual shareholder, owning 3.25 million shares, representing 6.35% of the company.