Squarepoint Ops LLC Makes New $322,000 Investment in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Squarepoint Ops LLC purchased a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,070 shares of the financial services provider’s stock, valued at approximately $322,000. Squarepoint Ops LLC owned about 0.06% of Horizon Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Horizon Bancorp by 1,656.2% in the second quarter. CWM LLC now owns 3,249 shares of the financial services provider’s stock worth $40,000 after buying an additional 3,064 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Horizon Bancorp in the first quarter worth about $80,000. Elser Financial Planning Inc purchased a new stake in shares of Horizon Bancorp in the second quarter worth about $137,000. EMC Capital Management boosted its position in shares of Horizon Bancorp by 11.0% in the first quarter. EMC Capital Management now owns 10,773 shares of the financial services provider’s stock worth $138,000 after buying an additional 1,064 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Horizon Bancorp by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,347 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,749 shares during the period. 64.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HBNC shares. Keefe, Bruyette & Woods upped their target price on Horizon Bancorp from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Piper Sandler increased their price target on Horizon Bancorp from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Hovde Group initiated coverage on Horizon Bancorp in a report on Monday, September 30th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, StockNews.com raised Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Horizon Bancorp currently has a consensus rating of “Hold” and an average target price of $16.00.

Horizon Bancorp Trading Up 4.2 %

Shares of HBNC opened at $15.23 on Friday. The stock has a 50-day moving average price of $15.20 and a 200 day moving average price of $13.50. Horizon Bancorp, Inc. has a one year low of $9.22 and a one year high of $16.64. The company has a market capitalization of $671.89 million, a P/E ratio of 28.20 and a beta of 1.04. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Horizon Bancorp had a return on equity of 8.17% and a net margin of 5.50%. The firm had revenue of $97.47 million for the quarter, compared to analysts’ expectations of $55.03 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts forecast that Horizon Bancorp, Inc. will post 1.38 EPS for the current fiscal year.

Horizon Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, October 4th. Horizon Bancorp’s payout ratio is currently 118.52%.

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.