Teacher Retirement System of Texas Takes $669,000 Position in Horizon Bancorp, Inc. (NASDAQ:HBNC)

Teacher Retirement System of Texas purchased a new stake in Horizon Bancorp, Inc. (NASDAQ:HBNC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,522 shares of the financial services provider’s stock, valued at approximately $669,000. Teacher Retirement System of Texas owned approximately 0.09% of Horizon Bancorp as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in 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 worth $25,000 after buying an additional 1,233 shares in the last quarter. Quarry LP boosted its stake in shares of Horizon Bancorp by 508.1% in the 3rd quarter. Quarry LP now owns 2,098 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,753 shares in the last quarter. R Squared Ltd bought a new position in shares of Horizon Bancorp during the 4th quarter valued at $39,000. POM Investment Strategies LLC purchased a new position in Horizon Bancorp in the 4th quarter worth $92,000. Finally, AMG National Trust Bank bought a new stake in Horizon Bancorp in the fourth quarter worth $161,000. Institutional investors own 64.51% of the company’s stock.

Horizon Bancorp Trading Down 2.3 %

Shares of HBNC opened at $15.16 on Monday. The stock has a market capitalization of $667.27 million, a P/E ratio of 18.95 and a beta of 1.05. Horizon Bancorp, Inc. has a twelve month low of $11.18 and a twelve month high of $19.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.83. The firm has a fifty day simple moving average of $16.40 and a two-hundred day simple moving average of $16.45.

Horizon Bancorp (NASDAQ:HBNC) last posted its 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%. On average, research analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a $0.16 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.22%. Horizon Bancorp’s dividend payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

HBNC has been the topic of a number of recent research reports. Piper Sandler reduced their price objective on 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 raised their price target on Horizon Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research 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.