Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,900 shares of the financial services provider’s stock after buying an additional 2,521 shares during the quarter. Rhumbline Advisers owned about 0.16% of Horizon Bancorp worth $1,126,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Horizon Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after purchasing an additional 52,423 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Horizon Bancorp by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 350,981 shares of the financial services provider’s stock valued at $5,458,000 after buying an additional 22,727 shares during the last quarter. Foundry Partners LLC boosted its holdings in shares of Horizon Bancorp by 46.0% in the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock valued at $2,824,000 after acquiring an additional 57,240 shares during the period. Empowered Funds LLC grew its position in shares of Horizon Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 117,080 shares of the financial services provider’s stock worth $1,886,000 after acquiring an additional 5,686 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Horizon Bancorp by 62.7% during the third quarter. Barclays PLC now owns 109,553 shares of the financial services provider’s stock worth $1,704,000 after acquiring an additional 42,218 shares during the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

Horizon Bancorp Trading Down 0.6 %

Shares of Horizon Bancorp stock opened at $16.31 on Thursday. The firm has a market cap of $712.99 million, a price-to-earnings ratio of 20.39 and a beta of 1.07. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18. The company’s 50-day simple moving average is $16.48 and its 200-day simple moving average is $16.45. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83.

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

Horizon Bancorp Announces Dividend

The firm also recently announced 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 3.92%. The ex-dividend date of this dividend was Friday, January 3rd. Horizon Bancorp’s dividend payout ratio (DPR) is currently 80.00%.

Wall Street Analyst Weigh In

HBNC has been the topic of a number of recent research reports. Piper Sandler dropped 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 note on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note 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.