Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP raised its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 4,298.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,753 shares of the financial services provider’s stock after purchasing an additional 8,554 shares during the quarter. Quantbot Technologies LP’s holdings in Horizon Bancorp were worth $141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMI Investment Management Inc. boosted its position in shares of 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 in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Horizon Bancorp by 362.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,573 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,233 shares during the period. Franklin Resources Inc. boosted its holdings in Horizon Bancorp by 7.0% during the third quarter. Franklin Resources Inc. now owns 25,996 shares of the financial services provider’s stock worth $399,000 after buying an additional 1,703 shares in the last quarter. Quarry LP grew 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 worth $33,000 after buying an additional 1,753 shares during the period. Finally, R Squared Ltd purchased a new position in Horizon Bancorp in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Horizon Bancorp Trading Down 2.3 %

Shares of HBNC opened at $15.16 on Monday. Horizon Bancorp, Inc. has a 1-year low of $11.18 and a 1-year high of $19.18. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $16.40 and a 200-day simple moving average of $16.45. The stock has a market cap of $667.27 million, a price-to-earnings ratio of 18.95 and a beta of 1.05.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly earnings results 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 return on equity of 8.48% and a net margin of 9.86%. Equities analysts forecast that Horizon Bancorp, Inc. will post 1.78 EPS 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. Shareholders of record on Friday, April 4th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, April 4th. This represents a $0.64 annualized dividend and a dividend yield of 4.22%. Horizon Bancorp’s dividend payout ratio is currently 80.00%.

Analysts Set New Price Targets

HBNC has been the topic of a number of research reports. Piper Sandler lowered their price target on Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their target price on Horizon Bancorp from $17.00 to $19.00 and gave the company 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.