Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 37.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,609 shares of the financial services provider’s stock after acquiring an additional 28,999 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.24% of Horizon Bancorp worth $1,658,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its stake in shares of Horizon Bancorp by 508.1% during the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,753 shares during the period. CWM LLC lifted its position in Horizon Bancorp by 114.2% during the third quarter. CWM LLC now owns 6,958 shares of the financial services provider’s stock worth $108,000 after buying an additional 3,709 shares during the period. Pathway Financial Advisers LLC lifted its position in Horizon Bancorp by 44.1% during the second quarter. Pathway Financial Advisers LLC now owns 8,956 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,740 shares during the period. Mackenzie Financial Corp acquired a new stake in Horizon Bancorp in the 2nd quarter worth about $133,000. Finally, Sanctuary Advisors LLC purchased a new stake in Horizon Bancorp in the 2nd quarter valued at about $150,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Stock Performance

Shares of HBNC stock opened at $15.70 on Thursday. The company’s fifty day simple moving average is $17.00 and its 200-day simple moving average is $15.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. Horizon Bancorp, Inc. has a 52 week low of $11.18 and a 52 week high of $19.18. The company has a market cap of $686.40 million, a PE ratio of 33.40 and a beta of 1.08.

Horizon Bancorp (NASDAQ:HBNC) last issued its quarterly earnings data 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 8.27% and a net margin of 5.89%. As a group, equities research analysts anticipate that Horizon Bancorp, Inc. will post 1.36 EPS for the current year.

Horizon Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Friday, January 3rd. Horizon Bancorp’s dividend payout ratio is presently 136.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HBNC shares. Hovde Group assumed coverage on shares of Horizon Bancorp in a report on Monday, September 30th. They issued an “outperform” rating and a $18.00 target price for the company. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their price objective on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

About Horizon Bancorp

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.