2,390 Shares in Horizon Bancorp, Inc. (NASDAQ:HBNC) Bought by R Squared Ltd

R Squared Ltd purchased a new position in Horizon Bancorp, Inc. (NASDAQ:HBNC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,390 shares of the financial services provider’s stock, valued at approximately $39,000.

Other institutional investors have also recently modified their holdings of the company. Quarry LP grew its stake in shares of Horizon Bancorp by 508.1% in the third quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,753 shares during the last quarter. CWM LLC grew its stake in shares of Horizon Bancorp by 114.2% in the third quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 3,709 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Horizon Bancorp in the second quarter worth $133,000. Sanctuary Advisors LLC purchased a new stake in shares of Horizon Bancorp in the second quarter worth $150,000. Finally, Centiva Capital LP bought a new position in shares of Horizon Bancorp during the third quarter valued at $163,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HBNC. Piper Sandler lowered their price target on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their price target on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Horizon Bancorp Stock Performance

Shares of HBNC opened at $16.79 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The business has a 50-day simple moving average of $16.74 and a two-hundred day simple moving average of $16.11. The stock has a market cap of $734.06 million, a price-to-earnings ratio of 20.99 and a beta of 1.08. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. On average, analysts expect that Horizon Bancorp, Inc. will post 1.72 EPS for the current year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.81%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s dividend payout ratio is presently 80.00%.

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.