AMG National Trust Bank Invests $161,000 in Horizon Bancorp, Inc. (NASDAQ:HBNC)

AMG National Trust Bank bought a new position in shares of Horizon Bancorp, Inc. (NASDAQ:HBNC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,000 shares of the financial services provider’s stock, valued at approximately $161,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. PL Capital Advisors LLC raised its position in Horizon Bancorp by 1,521.9% during the fourth quarter. PL Capital Advisors LLC now owns 23,893,933 shares of the financial services provider’s stock valued at $384,931,000 after buying an additional 22,420,759 shares during the period. Geode Capital Management LLC raised its position in Horizon Bancorp by 5.2% during the third quarter. Geode Capital Management LLC now owns 1,053,625 shares of the financial services provider’s stock valued at $16,387,000 after buying an additional 52,423 shares during the period. Charles Schwab Investment Management Inc. raised its position in Horizon Bancorp by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 359,247 shares of the financial services provider’s stock valued at $5,787,000 after buying an additional 8,266 shares during the period. Foundry Partners LLC raised its position in Horizon Bancorp by 46.0% during the third quarter. Foundry Partners LLC now owns 181,600 shares of the financial services provider’s stock valued at $2,824,000 after buying an additional 57,240 shares during the period. Finally, Empowered Funds LLC grew its stake in Horizon Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 117,080 shares of the financial services provider’s stock valued at $1,886,000 after purchasing an additional 5,686 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler lowered their target price 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 boosted their target price on Horizon Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Horizon Bancorp Stock Performance

HBNC opened at $15.97 on Monday. The company has a market cap of $698.13 million, a PE ratio of 19.96 and a beta of 1.05. The stock has a 50-day moving average of $16.47 and a 200-day moving average of $16.47. Horizon Bancorp, Inc. has a 52-week low of $11.18 and a 52-week high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88.

Horizon Bancorp (NASDAQ:HBNC) last released its quarterly 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 forecast that Horizon Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.64 annualized dividend and a dividend yield of 4.01%. Horizon Bancorp’s dividend payout ratio (DPR) is presently 80.00%.

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.