Horizon Bancorp, Inc. (NASDAQ:HBNC) Stake Boosted by PL Capital Advisors LLC

PL Capital Advisors LLC raised its holdings in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,483,174 shares of the financial services provider’s stock after purchasing an additional 10,000 shares during the period. Horizon Bancorp accounts for approximately 8.2% of PL Capital Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. PL Capital Advisors LLC’s holdings in Horizon Bancorp were worth $23,894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AMI Investment Management Inc. grew its position in Horizon Bancorp by 10.2% during the 4th quarter. AMI Investment Management Inc. now owns 11,932 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,109 shares during the last quarter. Meritage Portfolio Management lifted its stake in shares of Horizon Bancorp by 9.1% during the third quarter. Meritage Portfolio Management now owns 19,796 shares of the financial services provider’s stock worth $308,000 after buying an additional 1,658 shares during the period. Franklin Resources Inc. grew its holdings in shares of Horizon Bancorp by 7.0% during the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock valued at $399,000 after buying an additional 1,703 shares during the last quarter. Quarry LP grew its holdings in shares of 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 buying an additional 1,753 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Horizon Bancorp in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Price Performance

NASDAQ:HBNC opened at $16.67 on Wednesday. The firm’s fifty day moving average is $16.44 and its two-hundred day moving average is $16.37. The firm has a market cap of $728.73 million, a price-to-earnings ratio of 20.84 and a beta of 1.07. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. Horizon Bancorp, Inc. has a one year low of $11.18 and a one year high of $19.18.

Horizon Bancorp (NASDAQ:HBNC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 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%. Research analysts expect that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.84%. Horizon Bancorp’s payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HBNC shares. Piper Sandler lowered their price target on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research 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 increased their price target on shares of Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

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.