Barclays PLC Acquires 42,218 Shares of Horizon Bancorp, Inc. (NASDAQ:HBNC)

Barclays PLC boosted its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 62.7% during the third quarter, HoldingsChannel.com reports. The fund owned 109,553 shares of the financial services provider’s stock after purchasing an additional 42,218 shares during the period. Barclays PLC’s holdings in Horizon Bancorp were worth $1,704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HBNC. Y Intercept Hong Kong Ltd acquired a new stake in Horizon Bancorp during the third quarter valued at approximately $236,000. Jane Street Group LLC boosted its stake in Horizon Bancorp by 32.0% in the 3rd quarter. Jane Street Group LLC now owns 57,068 shares of the financial services provider’s stock valued at $887,000 after buying an additional 13,827 shares in the last quarter. Quarry LP grew its position in Horizon Bancorp by 508.1% in the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,753 shares during the period. Centiva Capital LP bought a new stake in Horizon Bancorp in the third quarter valued at $163,000. Finally, Walleye Capital LLC acquired a new position in Horizon Bancorp during the third quarter worth $169,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp Price Performance

Horizon Bancorp stock opened at $16.09 on Friday. The business’s fifty day moving average is $17.29 and its two-hundred day moving average is $15.44. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $703.37 million, a P/E ratio of 34.23 and a beta of 1.05. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $58.23 million. Horizon Bancorp had a net margin of 5.89% and a return on equity of 8.27%. During the same quarter in the prior year, the company earned $0.37 EPS. Equities research analysts forecast that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 3.98%. Horizon Bancorp’s dividend payout ratio (DPR) is currently 136.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Hovde Group started coverage on shares of Horizon Bancorp in a research report on Monday, September 30th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st.

Horizon Bancorp Profile

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.