Horizon Bancorp, Inc. (NASDAQ:HBNC) Stock Holdings Boosted by PL Capital Advisors LLC

PL Capital Advisors LLC grew its holdings in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1,521.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,893,933 shares of the financial services provider’s stock after buying an additional 22,420,759 shares during the quarter. Horizon Bancorp accounts for 4.5% of PL Capital Advisors LLC’s investment portfolio, making the stock its 7th largest position. PL Capital Advisors LLC owned about 54.65% of Horizon Bancorp worth $384,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its holdings in Horizon Bancorp by 508.1% in the 3rd 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 last quarter. R Squared Ltd purchased a new position in Horizon Bancorp during the fourth quarter worth approximately $39,000. POM Investment Strategies LLC acquired a new position in Horizon Bancorp during the fourth quarter worth $92,000. Centiva Capital LP purchased a new stake in Horizon Bancorp in the 3rd quarter valued at $163,000. Finally, Walleye Capital LLC acquired a new stake in shares of Horizon Bancorp in the 3rd quarter worth $169,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Piper Sandler dropped their price target on shares of Horizon Bancorp from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of 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 Price Performance

HBNC stock opened at $16.67 on Wednesday. The business’s fifty day moving average price is $16.44 and its 200 day moving average price is $16.37. Horizon Bancorp, Inc. has a 12-month low of $11.18 and a 12-month high of $19.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $728.73 million, a PE ratio of 20.84 and a beta of 1.07.

Horizon Bancorp (NASDAQ:HBNC) last issued 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%. On average, sell-side analysts anticipate that Horizon Bancorp, Inc. will post 1.78 EPS for the current year.

Horizon Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.64 annualized dividend and a yield of 3.84%. Horizon Bancorp’s dividend payout ratio is presently 80.00%.

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.