POM Investment Strategies LLC Invests $92,000 in Horizon Bancorp, Inc. (NASDAQ:HBNC)

POM Investment Strategies LLC purchased a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) in the fourth quarter, HoldingsChannel reports. The fund purchased 5,695 shares of the financial services provider’s stock, valued at approximately $92,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its position in Horizon Bancorp by 508.1% during 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 bought a new position in shares of Horizon Bancorp during the 4th quarter valued at approximately $39,000. CWM LLC raised its holdings in Horizon Bancorp by 114.2% during the 3rd quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock valued at $108,000 after buying an additional 3,709 shares during the period. Sanctuary Advisors LLC bought a new stake in Horizon Bancorp in the second quarter worth $150,000. Finally, Centiva Capital LP purchased a new position in Horizon Bancorp during the third quarter worth $163,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HBNC shares. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Piper Sandler reduced their price objective on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their target price 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 0.4 %

NASDAQ:HBNC opened at $17.38 on Tuesday. The company has a market cap of $759.85 million, a price-to-earnings ratio of 21.73 and a beta of 1.07. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The stock has a fifty day simple moving average of $16.61 and a 200-day simple moving average of $16.20.

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

Horizon Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.68%. Horizon Bancorp’s payout ratio 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.