Boston Partners Cuts Holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Boston Partners reduced its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 44.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,524 shares of the financial services provider’s stock after selling 29,388 shares during the quarter. Boston Partners’ holdings in Horizon Bancorp were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Horizon Bancorp by 362.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,233 shares during the period. Quarry LP raised 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 purchasing an additional 1,753 shares during the period. R Squared Ltd purchased a new position in Horizon Bancorp in the fourth quarter valued at about $39,000. POM Investment Strategies LLC purchased a new position in Horizon Bancorp in the fourth quarter valued at about $92,000. Finally, AMG National Trust Bank purchased a new position in Horizon Bancorp in the fourth quarter valued at about $161,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on HBNC shares. Piper Sandler cut their price objective on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Horizon Bancorp Stock Down 2.1 %

Shares of NASDAQ HBNC opened at $15.28 on Friday. Horizon Bancorp, Inc. has a 1 year low of $11.18 and a 1 year high of $19.18. The firm has a market cap of $672.55 million, a price-to-earnings ratio of 19.10 and a beta of 1.05. 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 stock’s 50-day simple moving average is $16.41 and its 200-day simple moving average is $16.45.

Horizon Bancorp (NASDAQ:HBNC) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Horizon Bancorp had a return on equity of 8.48% and a net margin of 9.86%. As a group, equities analysts anticipate that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a yield of 4.19%. Horizon Bancorp’s dividend payout ratio (DPR) is 80.00%.

Horizon Bancorp Company 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.